Would revolving debt (credit cards) be included in Notes Payable In One Year Less or in Notes Payble in One Year or More
![]() |
Would revolving debt (credit cards) be included in Notes Payable In One Year Less or in Notes Payble in One Year or More
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.
All times are GMT -7. The time now is 11:09 AM. |