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What is organization business debt after debt is paid off

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Reference no: EM132569486

A healthcare organization has the following financial information available in a balance sheet:

Assets:

Cash of $10,000

Accounts receivable of $5,000

Machinery & equipment of $50,000

Liabilities:

Accounts payable of $6,000

Loans payable of $25,000

Common stock of $34,000

The organization decides to use $5,000 of the organization cash reserves to pay off some of the loans payable of $25,000.

Question 1: What is the organization's business debt after the debt is paid off?

Reference no: EM132569486

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