Question
The comparative accounts payable and long-term debt balances for a company follow. Current Year Previous Year Accounts payable $47,481 $39,900 Long-term debt 44,650 47,000 Based
The comparative accounts payable and long-term debt balances for a company follow.
| Current Year | Previous Year | |
| Accounts payable | $47,481 | $39,900 |
| Long-term debt | 44,650 | 47,000 |
Based on this information, what is the amount and percentage of increase or decrease that would be shown on a balance sheet with horizontal analysis? Enter all answers as positive numbers.
| Amount of Change | Increase/Decrease | Percentage | |
| Accounts payable | $fill in the blank 1 | IncreaseDecrease | fill in the blank 3 % |
| Long-term debt | $fill in the blank 4 | IncreaseDecrease | fill in the blank 6 % |
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Fundamental financial accounting concepts
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
8th edition
978-007802536, 9780077648831, 0078025362, 77648838, 978-0078025365
