The beginning and ending balances of long-term debt are $61,500 and $35,400,respectively,and cash payments for long-term debt during the year were $35,100.How much new long-term debt was issued during the year?

Question

Quizplus · Accepted Answer

The new long-term debt issued during the year is equal to the beginning balance plus the cash payments minus the ending balance. So, $61,500 + $35,100 - $35,400 = $9,000.

The Beginning and Ending Balances of Long-Term Debt Are $61,500