Young Industries Has a 3-Year Bank Loan of $85,000,a 6-Month

question 58

Multiple Choice

Young Industries has a 3-year bank loan of $85,000,a 6-month note payable of $6,000,a $67,300 mortgage,and accounts payable of $22,500.What is the amount of the total current liabilities? (Ignore the current portion of any long-term debt.)

• A) $5,000
• B) $16,200
• C) $28,500
• D) $64,200
• E) $117,000

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Definitions:

Chytrids

A phylum of simple, aquatic fungi that can be parasitic or saprobic and have a unique mode of mobility involving flagella.

Flagellate

A unicellular nonphotosynthetic protist that has one or more long, whiplike flagella.

Conidia

A type of asexual spore produced by various fungi, often serving as a mechanism for dispersal and reproduction.

Ascocarps

The fruiting bodies of ascomycete fungi, which contain spore-producing structures.