French Bistro reported the following information about its long-term debt in the notes to a recent financial statement:
Long-term debt comprises the following:
a. How much of the notes payable was disclosed as a current liability on the December 31, 2015, balance sheet?
b. How much did the total current liabilities change between 2014 and 2015 as a result of the current portion of long-term debt?
c. If French Bistro did not issue additional notes payable during 2016, what would be the total notes payable on December 31, 2016?
d. During 2016, what is the average principal that French Bistro will pay each month? Explain why interest is not included in this amount.

  • CreatedSeptember 15, 2015
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