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During 2020, the cash flows related to Liberty Recycling Company's lending and borrowing activities are summarized as follows: Cash lent to borrowers $250,000 Payment to
During 2020, the cash flows related to Liberty Recycling Company's lending and borrowing activities are summarized as follows:
Cash lent to borrowers | $250,000 |
Payment to pay off notes payable | 1,000,000 |
Proceeds from issuance of bonds payable | 350,000 |
Interest received from borrowers | 20,000 |
Interest payments made on notes payable | 100,000 |
Based solely on the above information, what is Liberty's net cash used in financing activities?
A) $650,000
B) $750,000
C) $900,000
D) $980,000
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