Gerald Sales has total owner's equity of $18,700. The firm has current liabilities of $2,500 and total

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Gerald Sales has total owner's equity of $18,700. The firm has current liabilities of $2,500 and total assets of $31,800. What is the value of the long-term debt, if you also know that market value of firm's inventories is $2,900?

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Principles of Accounting

ISBN: 978-0618736614

10th edition

Authors: Belverd Needles, Marian Powers, Susan Crosson

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Posted Date: Apr 27, 2024 04:00 AM

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Gerald Sales has total owner's equity of $18,700. The firm has current liabilities of $2,500 and total

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To determine the value of the longterm debt we can use the equation Total ... View the full answer

Principles of Accounting

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