The current portion of notes payable must be reported on the balance sheet combined with the long-term portion under non-current liabilities.

Name: The current portion of notes payable must be reported on the balance sheet combined with the long-term portion under non-current liabilities.
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The current portion of notes payable should be reported separately under current liabilities, as it is due within one year, while the long-term portion is reported under non-current liabilities.

The Current Portion of Notes Payable Must Be Reported on the Balance