On January 1 , 2 0 2 4 , ZZ , Inc. took out a bank loan.
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Question:
On January ZZ Inc. took out a bank loan. The loan
required annual payments of $ with the first payment
being due December
In its statement of cash flows, ZZ Inc. reported a
cash outflow from operating activities of $ related
to this loan. In its statement of cash flows, ZZ Inc.
had a cash outflow from financing activities of $
related to this loan.
The loan balance at December after the third loan
payment was made, totaled $
Calculate the amount of the loan payment made on Dec.
that is classified as a reduction of principle.
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