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.
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