Current Portion of LT Debt

[Red]

I am trying to determine the current portion of a debt where payment has been deferred for several months. To further explain, the vendor agreed to allow us to stop monthly payments and resume in 6 months with additional interest due.

Cash flow was very difficult at the time which brings me to my question. How do I determine the current portion? I am closing out our financials through June 30th and need to make this entry to be complete. Do I just continue to march and make the entry based upon the original loan, or back up the current portion to match payments due July 1 through June 30, 2015?

 

[Counterofbeans]

Assuming that the company's operating cycle is 12 months, record as your current portion of long-term debt what the company is contractually obligated to pay within 12 months. The availability of cash flows to retire such debt, or the lack thereof, isn't relevant.