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Brlef Exerclse 8-9 (Algo) Reclasslfy current portlon of long-term debt (LO8-4) On September 1, 2024. Hawaiian Airlines borrows $32 million, and records the full amount
Brlef Exerclse 8-9 (Algo) Reclasslfy current portlon of long-term debt (LO8-4) On September 1, 2024. Hawaiian Airlines borrows $32 million, and records the full amount as Notes Payable (long-term). On December 31,2024 (balance sheet date). Southwest determines $11 million of the note is due next year, while the remaining $21 million is due in two years. Record the entry to reclassify the current portion of long-term debt. (If no entry ls requlred for o partlcular transactlon/event, select "No Journal Entry Requlred" In the flrst account fleld. Enter your answers in dollers, not millions. For example, $5.5 millilon should be entered as 5,500,000.) Journal entry worksheet Record the entry to reclassify the current portion of long-term debt. Note: Enter debits before credits
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