Suppose a company paid off a $1 million short-term loan to one bank with the proceeds from

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Suppose a company paid off a $1 million short-term loan to one bank with the proceeds from an identical loan from another bank. The change in the short-term debt account would be zero. Should anything appear in the statement of cash flows? Explain.

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Introduction to Financial Accounting

ISBN: 978-0133251036

11th edition

Authors: Charles Horngren, Gary Sundem, John Elliott, Donna Philbrick

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