Question: The comparative accounts payable and long-term debt balances for a company follow. Based on this information, what is the amount and percentage of increase or

The comparative accounts payable and long-term debt balances for a company follow.

Current Year $114,240 127,200 Previous Year Accounts payable $102,000 Long-term debt 120,000


Based on this information, what is the amount and percentage of increase or decrease that would be shown on a balance sheet with horizontal analysis?

Current Year $114,240 127,200 Previous Year Accounts payable $102,000 Long-term debt 120,000

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