Galan associates prepared its financial statements for 2012, Ask an Expert

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Galan Associates prepared its financial statements for 2012 based on the information below. The company had cash of $1,350, inventory of $12,480, and accounts receivables of $6,589. The company's net fixed assets are $40,331, and other assets are $1,822. It has accounts payable of $10,604, notes payable of $2,886, common stock of $22,400, and retained earnings of $14,368. How much long-term debt does the firm have?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M943902

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