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    umo78's Avatar
    umo78 Posts: 1, Reputation: 1
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    #1

    Oct 28, 2009, 07:01 PM
    Notes Payable in One Year or Less
    Would revolving debt (credit cards) be included in Notes Payable In One Year Less or in Notes Payble in One Year or More
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    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.

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