current portion of long-term debt
Hi and thanks for being available. I'm an accountant at a mid-sized company. We have a 5-year loan. Let's say the monthly installments are $10,000 each month. The loan just begun, so we state the Current Portion as $120,000. This was for the March financial stmts. However, mgmt decided to make a larger payment on 4/5 of $25,000. Since we know this while preparing the March financials, should we up the Current Portion to $135,000?
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