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Motorsports of Philadelphia, Inc., reported the following financial statements for 2018: (Click the icon to view the income sReference Motorsports of Philadelphia, Inc. Income Statement Year Ended December 31, 2018 (In thousands) 700 Service revenueA Reference Motorsports of Philadelphia, Inc. Comparative Balance Sheets December 31, 2018 and 2017 (In thousands) Assets 201

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Answer #1

Answer- The new borrowing of long-term notes payable is $6 thousands.

Explanation-Increase in long-term note payable = ($66-$60) thousands

= $6 thousands

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