300
Johnny Nosepick started his day off with $1350. He spent $1000 on a Q-Tip, and $350 on a grilled cheese sandwich. Then, he charged $500 to his credit card for a bottle of water. Does Johnny have debt? Explain why or why not.
Yes. Johnny makes poor choices, and owes $500 to a credit card company. Since debt is money you owe to a person or company, Johnny has debt.