Refer to the situation described in BE119. Determine the financing cash flows to be reported by IT
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Refer to the situation described in BE11–9. Determine the financing cash flows to be reported by IT Industries in 2021.
BE11-9
On April 1, 2020, Teleworks Company lent $100,000 to IT Industries. IT Industries pays back in full the note plus 10% interest on April 1, 2021. Determine the investing cash flows to be reported by Teleworks Company in 2021.
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Related Book For
Financial Accounting
ISBN: 978-1259914898
5th edition
Authors: David Spiceland, Wayne M. Thomas, Don Herrmann
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