The Braxton Co.has beginning long-term debt of $64,500,which is the principal balance of a loan payable to Centre Bank.During the year,the company paid a total of $16,300 to the bank,including $4,100 of interest.The company also borrowed $11,000.What is the value of the ending long-term debt?
A) $45,100
B) $53,300
C) $58,200
D) $63,300
E) $85,900
Correct Answer:
Verified
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