A company settles a long-term notes payable plus interest by paying $68,000 cash toward the principal amount

Question:

A company settles a long-term notes payable plus interest by paying $68,000 cash toward the principal amount and $5,440 cash for interest. The amount reported as a use of cash under cash flows from financing activities is

a. $73,440.

b. $68,000.

c. $5,440.

d. $0; this is an investing activity.

e. $0; this is an operating activity.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: