Hi,

I am requesting your help. This course-related is in Managerial Accounting.

Compute new borrowing or payment of long-term notes payable, with Sutton Exercise having only one long-term notes payable transaction during the year.

The ____________ of long-term notes payable is $ ___________.

Thank you,

Michelle

print-out. Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Current Assets: S 21,000 s 15,000 Cash Accounts Recelvable 55,000 51,000 81,000 95,000 Merchandise Inventory Long-term Assets: 272,900 223,400 Plant Assets (47,900) (36,400) Accumulated Depreciation Plant Assets 79,000 93,000 Investments S 476,000427,000 Total Assets Liabilities Current Liabilities: 72,000 S 75,000 Accounts Payable 4,000 4,500 Salaries Payable Long-term Liabilities: 58,000 72,000 Notes Payable 137,000148,500 Total Liabilities Stockholders' Equity 36,000 Common Stock, no par 47,000 242,500 291,000 Retained Earnings 278,500 338,000 Total Stockholders' Equity $475,000 S427,000 Total Liabilities and Stockholders Equity Sutton Exercise Equipment, Inc. print-out Income Stalement Year Ended December 31, 2018 Net Sales Revenue $711,000 341,000 Cost of Goods Sold Gross Profit 370,000 Operating Expenses Depreciation Expense 52,000 205,000 Other Operating Expenses 257,000 Total Operating Expenses S 113,000 Net Income