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please help! On January 1, Year 1, DIBA Company had a balance of $430,000 in its Bonds Payable account. During Year 1, DIBA issued bonds
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On January 1, Year 1, DIBA Company had a balance of $430,000 in its Bonds Payable account. During Year 1, DIBA issued bonds with a $168,000 face value. There was no premium or discount associated with the bond issue. The balance in the Bonds Payable account on December 31, Year 1 , was $244,000. Required a. Determine the cash outflow for the repayment of bond liabilities assuming that the bonds were retired at face value. b. Prepare the financing activities section of the Year 1 statement of cash flows. (Amounts to be deducted should be indicated with a minus sign.) Step by Step Solution
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