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Principal and interest expenditures on general long-term debt should be recognized in the period ...

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Accounting

Principal and interest expenditures on general long-term debt should be recognized in the period

  1. That the costs are incurred.
  2. Prior to the year in which they are due, i.e., when they become short-term debt.
  3. That they are legally due and payable.
  4. That they are paid.

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