Suppose the $705,000 current portion was paid in 2013, and an additional $500,000 of debt became due
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Suppose the $705,000 current portion was paid in 2013, and an additional $500,000 of debt became due in 2014. On the balance sheet as of December 31, 2013, the current portion of long-term debt would be reported as $ , and the noncurrent liability would be reduced to $ .
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