current debt

Definition

A balance sheet item which equals the sum of all money owed by a company and due within one year. also called payables or current liabilities.

Use current debt in a sentence

You should always be kept up on your current debt so that you know you don't get to far under water.

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Our current debt was causing us a lot of problems in our company, so I decided that it was time to start paying it off.

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The current debt of Mr. Milan's dog grooming company was $50,000 and he wasn't sure if profits from services would be able to cover that debt.

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