The Balance Sheet: Debt
Debt
Business financing provided by a creditor
Current Debt (Short-Term Liabilities)
Accounts payable: trade credit payable to suppliers
Accrued expenses: short-term liabilities incurred but not paid
Short-term notes: Cash amounts borrowed that must be repaid within a short period of time
Long-Term Debt
Loans and mortgages with maturities greater than one year