Question
Holly Oaks, Inc. is preparing the company's statement of cash flows for the fiscal year just ended. Using the following information, determine the amount of
Holly Oaks, Inc. is preparing the company's statement of cash flows for the fiscal year just ended. Using the following information, determine the amount of cash flows from financing activities:
Debit Cash for $28,000; credit Notes Receivable $28,000.
Debit Cash $28,595.00; credit Interest Revenue $595.00; credit Notes Receivable $28,000.
Debit Cash $28,595.00; credit Notes Receivable for $28,595.00.
Debit Notes Payable $28,000; Debit Interest Expense $2,380; credit Cash $30,380.
Debit Cash $30,380; credit Interest Revenue $2,380, credit Notes Receivable $28,000.
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