Get correct answer accounting questions Reynolds Corp has beginning long-term debt of $85,000. During the year, the company madetotal payments of $24,500, which included $6,500 of interest. The company also took out anadditional loan of $15,000. Calculate the ending long-term debt.a. $75,500b. $76,000c. $82,000d. $94,000

Step 1: Definition of Long-Term DebtLong-Term Debt: Long-term debt refers to the portion of a…

Answered: Reynolds Corp has beginning long-term…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 14MC: Whirlie Inc. issued $300,000 face value, 10% paid annually, 10-year bonds for $319,251 when the...

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Reynolds Corp has beginning long-term debt of $85,000. During the year, the company made total payments of $24,500, which included $6,500 of interest. The company also took out an additional loan of $15,000. Calculate the ending long-term debt. a. $75,500 b. $76,000 c. $82,000 d. $94,000