b. What is the resulting total forecasted amount of notes payable?

c. In your answers to Parts a and

b, you should not have charged any interest on the additional debt added during 2011 because it was assumed that the new debt was added at the end of the year. But now suppose that the new debt is added throughout the year. Don’t do any calculations, but how would this change the answers to parts a and b?

Chapter 12: Financial Planning and Forecasting Financial Statements 505