Question: The comparative accounts payable and long-term debt balances for a company follow. Current Year Previous Year Accounts payable $111,000 $100,000 Long-term debt 132,680 124,000 Based

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

Current Year Previous Year
Accounts payable $111,000 $100,000
Long-term debt 132,680 124,000

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?

Amount of Change Increase/Decrease Percentage
Accounts payable $ %
Long-term debt $ %

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