Question
Mandalay Flooring Company has $500,000 in Cash, $950,000 in Accounts Receivable, $3,580,000 in Current Assets, $4,200,000 in Long-term Assets, $800,000 in Accounts Payable, $1,100,000 in
Mandalay Flooring Company has $500,000 in Cash, $950,000 in Accounts Receivable, $3,580,000 in Current Assets, $4,200,000 in Long-term Assets, $800,000 in Accounts Payable, $1,100,000 in Current Liabilities, and $4,500,000 in Shareholder Equity. How much long-term debt does the Mandalay Bay Flooring Company have?
a. $2,180,000
b. $980,000
c. Not enough information is given
d. $7,780,000
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Fundamentals Of Financial Management
Authors: James C Van Horne
3rd Edition
0133393410, 978-0133393415
