Pete's Boats has beginning long-term debt of $840 and ending long-term debt of $790. The beginning...
Pete's Boats has beginning long-term debt of $840 and ending long-term debt of $790. The beginning and ending total debt balances are $1,220 and $1,360, respectively. The interest paid is $30. What is the amount of the cash flow to creditors? Multiple Choice −$110 $80 $110 −$80 $20
Homework Answers
Net new long term debt=Ending long term debt-Beginning long term debt
=790-840=($50)
Hence cash flow to creditors=Interest paid-Net new long term debt
=30-(50)
which is equal to
=$80.
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Pete's Boats has beginning long-term debt of $840 and ending
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