At the beginning of the year, Shinedown, Corporation, had a…
At the beginning of the year, Shinedown, Corporation, had a long-term debt balance of $45,630. During the year, the company repaid a long-term loan in the amount of $11,055. The company paid $3,940 in interest during the year, and opened a new long-term loan for $9,840. How much is the ending long-term debt account on the company’s balance sheet?