At the beginning of the year, Trees Galore had current liabilities of $15,932 and total debt of $68,847. By year end, current liabilities were $13,870 and total debt was $72,415. What is the amount of net new borrowing for the year?

Question

Quizplus · Accepted Answer

Net new borrowing is calculated as the change in total debt from the beginning to the end of the year. The total debt increased from $68,847 to $72,415, which is an increase of $3,568.

At the Beginning of the Year, Trees Galore Had Current