Question: A healthcare organization has the following financial information available in a balance sheet: Assets: Chas $10000, AR $5000, Machinery and Equipment $50,000. Liabilities: AP $6,000, Loans payable of $25,000, common stock of $34,000.
The organization decides to use $5000 of the organizations cahs reserves to pay off some of the loans payable of $25,000. What is the organizations business debt after the debt is paid off?