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

question 55

Multiple Choice

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?

• A)New long-term debt issued during the year was $9,000.
• B)New long-term debt issued during the year was $300.
• C)New long-term debt issued during the year was $26,100.
• D)New long-term debt issued during the year was $61,200.

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Definitions:

Start-up Costs

The initial expenses required to start a new business, including costs for legal fees, equipment, inventory, and marketing.

Skill Levels

The degrees of proficiency or competence in performing tasks or jobs, often categorized by beginner, intermediate, and advanced levels.

Skill-based Pay

Skill-based pay is a compensation system where employees are paid based on the number, variety, or complexity of skills and qualifications they possess, rather than solely on their job position or title.

Additional Pay

Compensation above an employee's regular pay scale, which could include bonuses, overtime, or allowances.