Refer to the situation described in BE119. Determine the financing cash flows to be reported by IT
Question:
Refer to the situation described in BE11–9. Determine the financing cash flows to be reported by IT Industries in 2024.
Data from in BE11-9
On April 1, 2023, Teleworks Company lent $100,000 to IT Industries. IT Industries pays back in full the note plus 10% interest on April 1, 2024. Determine the investing cash flows to be reported by Teleworks Company in 2024.
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