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View Full Version : Notes Payable in One Year or Less


umo78
Oct 28, 2009, 07:01 PM
Would revolving debt (credit cards) be included in Notes Payable In One Year Less or in Notes Payble in One Year or More

morgaine300
Oct 28, 2009, 11:00 PM
Credit cards are intended to be paid short-term. And quite personally, I would put them Accounts Payable. Even though you've made an agreement to pay them, and even though they can charge interest and late charges and all that, they're not really a promissory note. I'd be tempted to create a separate account for them, even calling it Credit Card Payable or something.