Cornerstone Markets Has Beginning Long-Term Debt of $64,500, Which Is

question 100

Multiple Choice

Cornerstone Markets 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

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