The following information was taken from the $2024$ financial statements of Cheyenne Corporation:

Bonds payable, January $1,2024$ $$799000$

Bonds payable, December $31,20244880000$

In $2024,$ the following bonds payable transactions occurred:

A $$714000$ payment was made to retire bonds payable with a face amount of $$799000.$

Bonds payable with a face amount of $$326000$ were issued in exchange for equipment.

In its statement of cash flows for the year ended December $31,2024,$ what amount should Cheyenne report as proceeds from the issuance of bonds payable?

  

Answer rating: 100% (QA)

To determine the amount that Cheyenne Corporation should report as proc... View the full answer