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Riley Company borrowed $ 4 8 , 0 0 0 on April 1 , Year 1 from the Titan Bank. The note issued by Riley

Riley Company borrowed $48,000 on April 1, Year 1 from the Titan Bank. The note issued by Riley carried a one year term and a 6% annual interest rate. Riley earned cash revenue of $1,140 in Year 1 and $1,500 in Year 2. Assume no other transactions. The amount of cash flow from operating activities on the Year 2 income statement would be: $720. $(60). $780. $2,220.

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