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Selected information from the 2018 accounting records of Dunn's Auto Dealers is as follows: Cost of furniture purchased for cash $ 8,000 Proceeds from bank
Selected information from the 2018 accounting records of Dunn's Auto Dealers is as follows:
Cost of furniture purchased for cash | $ | 8,000 |
Proceeds from bank loan | 100,000 | |
Repayment of bank loan (includes interest of $4,000) | 44,000 | |
Proceeds from sale of equipment | 5,000 | |
Cash collected from customers | 320,000 | |
Purchase of stock of another corporation as an investment | 20,000 | |
Common stock issued for cash | 200,000 | |
In its 2018 statement of cash flows, Dunn's should report net cash inflows from financing activities of:
Multiple Choice
$260,000
$265,000
$60,000
$256,000
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