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Current Portion of Long-Term Debt Connie's Bistro, Inc. reported the following information about its long-term debt in the notes to a recent financial statement: Long-term
Current Portion of Long-Term Debt
Connie's Bistro, Inc. reported the following information about its long-term debt in the notes to a recent financial statement:
Long-term debt is comprised of the following:
Current Year | Preceding Year | |||
Total Notes payable | $460,700 | $253,400 | ||
Less current portion | (133,600) | (124,400) | ||
Long-term debt | $327,100 | $129,000 |
c. If Connie's Bistro did not issue additional long-term debt next year, what would be the total notes payable on December 31 of the upcoming year?
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