Unformatted text preview: interest cost of 1% above the prime rate. The Company intends to issue notes maturing in 2015 to replace $3,000,000 of short-term, 15%, notes due periodically in 2011. Because the amount that can be borrowed may range from $3,000,000 to $4,800,000, only $3,000,000 of the $7,000,000 of currently maturing debt has been reclassified as long-term debt. *[$7,000,000 – ($5,000,000 X 60%)]...
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This note was uploaded on 04/22/2010 for the course ACCT ACC552 taught by Professor Hint during the Spring '09 term at Keller Graduate School of Management.
- Spring '09
- Balance Sheet