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Current Portion of Long-Term Debt Connie's Bistro, Inc. reported the following information about its long-term debt in the notes to a recent financial statement (in
Current Portion of Long-Term Debt Connie's Bistro, Inc. reported the following information about its long-term debt in the notes to a recent financial statement (in millions): Long-term debt is composed of the following: December 31 Current Preceding Year Year Total Notes payable $481,400 $264,800 Less current portion (139.600) (130,000) Long-term debt $341,800 $134,800 a. How much of the notes payable was disclosed as a current liability on the current year's December 31 balance sheet? b. How much did the total current liabilities change the preceding year and the current year as a result of the current portion of long- term debt? c. If Connie's Bistro did not issue additional long-term debe next year what would be the total notes payable on December 31 of the upcoming year
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