On December Cheyenne Company has $ of shortterm debt in the form of notes payable to Gotham State Bank
due in On December Cheyenne enters into a refinancing agreement with Gotham that will permit it to borrow up to
of the gross amount of its accounts receivable. Receivables are expected to range between a low of $ in May to a high of
$ in October during the year The interest cost of the maturing shortterm debt is and the new agreement calls
for a fluctuating interest at above the prime rate on notes due in Cheyenne's December balance sheet is issued on
February
Prepare a partial balance sheet for Cheyenne at December showing how its $ of shortterm debt should be
presented. Enter account name only and do not provide descriptive information.
