Hoe much long rerm debt did the firm have ?? General accounting Andromeda Corp prepared its financial statements for 2023based on the information below. The company had cash of$1,500, inventory of $16,400, and accounts receivables of$7,300. The company's net fixed assets were $50,000, and otherassets were $3,500. It had accounts payable of $12,900, notespayable of $3,200, common stock of $25,000, and retainedearnings of $18,300. How much long-term debt did the firmhave?a. $17,900b. $22,400c. $18,500d. $19,300

Step 1: Definition of Long-Term DebtLong-term debt refers to the portion of a company's liabilities…

Answered: Andromeda Corp prepared its financial…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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