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

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A company settles a long-term note 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. Zero; this is an investing activity.

b. Zero; this is an operating activity.

c. $73,440.

d. $68,000.

e. $5,440.AppendixLO1

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Financial Accounting Information For Decisions

ISBN: 9780073043753

4th Edition

Authors: John J. Wild

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Question Posted: Jul 24, 2024 10:00 AM

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

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Financial Accounting Information For Decisions

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