A company repaid a loan for $ 75,000, but borrowed another $ 82,000. The balance in the

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A company repaid a loan for $ 75,000, but borrowed another $ 82,000. The balance in the loan account therefore increased by $ 7,000 during the year. How would these events be reflected on the SCF? Use this example to explain offsetting.

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Intermediate Accounting

ISBN: 978-0071339476

Volume 1, 6th Edition

Authors: Beechy Thomas, Conrod Joan, Farrell Elizabeth, McLeod Dick I

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Question Posted: Feb 17, 2015 09:03 AM

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A company repaid a loan for $ 75,000, but borrowed another $ 82,000. The balance in the

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Offsetting involves showing cash inflows and outflows net It is not acceptable p...View the full answer

Intermediate Accounting

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