Current Portion of Long-term Debt Explained | Accounting How To | How to Pass Accounting Class

Current Portion of Long-term Debt Explained | Accounting How To is an accounting tutorial explaining the nature of long-term and short-term liabilities, the purpose of current portion of long-term debt (also called current maturities of long-term debt), classified balance sheets, and uses an example to explain how Current Portion of Long-term Debt or Current Maturities of Long-term Debt is determined. This is an accounting tutorial for accounting students, business owners, and bookkeepers to explain accounting basics for beginners. Featuring Terrance the T-Account Rex and accounting educator, Caroline Grimm, this accounting tutorial is part the playlist series: How to Pass Accounting Class and Accounting Basics for Business Owners. ⏰ Accounting How To Time Stamps: 00:00 Introduction to Current Portion of Long-term Debt 00:38What is Long-Term Debt? 01:15 What is Current Portion of Long-Term Debt? 02:24 Why do we categorize Current Portion of Long-term Debt in our liabilities? 04:03 Real Life Example 04:55 Journal Entries for Current Portion of Long-term Debt 06:26 Using a Debt Schedule to determine Current Portion of Long-term Debt Link to Current Assets video: https://youtu.be/fBBGpL27glU Link to Current Liabilities video: https://youtu.be/R2LvB0iduZ4