During the current year, Maine Savings and Loan Association made new loans of $15 million. In addition,

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During the current year, Maine Savings and Loan Association made new loans of $15 million. In addition, the company collected $36 million from borrowers, of which $30 million was interest revenue. Explain how these cash flows will appear in the company’s statement of cash flows, indicating the classification and the dollar amount of each cash flow.

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Financial and Managerial Accounting the basis for business decisions

ISBN: 978-0078111044

16th edition

Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello

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