Question: Agee Technology, Inc., issued 9% bonds, dated January 1, with a face amount of $1,400 million on July 1, 2018, at a price of $1370
Agee Technology, Inc., issued 9% bonds, dated January 1, with a face amount of $1,400 million on July 1, 2018, at a price of $1370 million. For bonds of similar risk and maturity, the market yield is 10%. Interest is paid semiannually on June 30 and December 31. What would be the amounts related to the bonds that Agee would report in its statement of cash flows for the year ended December 31, 2018, if it used the indirect method?
cash inflow from financing activities $1370
operating activities: positive adjustment to net income ???
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