The Beginning and Ending Balances of Long-Term Debt for the Most

Multiple Choice

The beginning and ending balances of long-term debt for the most recent fiscal year are $43,850 and $27,000,respectively.During the year,cash payments for long-term debt amounted to $23,450.How much new long-term debt was issued during the year?

A) $6,600
B) $20,400
C) $3,550
D) $16,850
E) None of the answer choices is correct.