The Beginning and Ending Balances of Long-Term Debt Are $64,000

question 138

Multiple Choice

The beginning and ending balances of long-term debt are $64,000 and $35,200,respectively,and,cash payments for long-term debt during the year were $34,100.How much new long-term debt was issued during the year?

• A)New long-term debt issued during the year was $1,100.
• B)New long-term debt issued during the year was $5,300.
• C)New long-term debt issued during the year was $28,800.
• D)New long-term debt issued during the year was $62,900.

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Definitions:

Critical Thinking

A procedure for unbiased analysis and evaluation of a problem to make a determination.

Holistic Critical Thinking

A comprehensive approach to critical thinking that considers all factors, perspectives, and implications in the process of evaluation or decision-making.

Comparisons

The act of evaluating two or more entities by identifying similarities and differences between them.