CPs are reported as a current liability in the borrower’s balance sheet. Normally companies will ‘roll over’ their commercial paper programs financing at least some of the commercial paper repaid with new commercial paper.
Beside above, what type of asset is commercial paper?
Commercial paper (CP) is a money market security issued by large corporations to raise money to meet short-term obligations. With a fixed maturity of less than one year, the commercial paper acts as a promissory note that is backed only by the high credit rating of the issuing company.