Question
Consider the following information: Beginning balance of long-term debt in a company was : $77,000. Ending balance of long-term debt : $160,000. The company took
Consider the following information:
Beginning balance of long-term debt in a company was : $77,000.
Ending balance of long-term debt : $160,000.
The company took on new debt amounting to $94,000 during the year.
How much of long-term debt was paid off during the year? Please round your final answer to the nearest dollar. Do not round intermediary answers. Do not use $ signs in your final answer.
(Hint: Beginning Long-Term Debt + New Debt Payments = Ending Long-Term Debt)
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Cost And Management Accounting An Introduction
Authors: Colin Drury
5th Edition
1861529058, 978-1861529053
