The beginning balance in loan payable on company a's year 2 balance sheet is $180,000. the company took out new loans of $200,000 during year 2, and repaid $40,000 of loans. what is the beginning balance in loan payable on the year 3 balance sheet? assuming no other transactions affected the account during the year. hint: you may find it helpful to use a t-account as you work through this question.
O $340,000
O $160,000
O $380,000
O $20,000