Question: 1. The Financing Activities section of TELUS's 2011 statement of cash flows reports three items related to short-term and long-term debts. Assume that each of

1. The Financing Activities section of TELUS's 2011 statement of cash flows reports three items related to short-term and long-term debts. Assume that each of these items involved a single transaction and journalize each one. Did TELUS borrow more or pay off more debt in 2011? Journalize these transactions.
2. How would you rate TELUS's debt-paying ability at the end of 2011: excellent, neutral, or poor? Support your conclusion with relevant ratios.

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