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Mackay Manufacturing purchased a new piece of equipment costing $80,000. Mackay paid $35,000 cash down and signed a long-term note for the remainder. What types
Mackay Manufacturing purchased a new piece of equipment costing $80,000. Mackay paid $35,000 cash down and signed a long-term note for the remainder. What types of activities (operating, financing, or investing) are represented by this transaction? How would this transaction be reported in Mackay Manufacturing's statement of cash flows? Complete the table below to show how this transaction would be reported in Mackay Manufacturing's statement of cash flows and/or its accompanying schedule of noncash investing and financing activities
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