Determining Cash Flows from Financing Activities: Notes Payable

All transactions involving Notes Payable and related accounts of Sally Company during 2014 follow.

		Dr.		Cr.
Cash		36,000
Notes Payable				36,000
Bank loan
		Dr.		Cr.
Patent		60,000
Notes Payable				60,000
Purchase of patent by issuing note payable
		Dr.		Cr.
Notes Payable		10,000
Interest Expense		1,000
Cash				11,000
Repayment of note payable at maturity

Determine the amounts of the transactions affecting financing activities and show how they appear on the statement of cash flows for 2014. Use the minus sign to indicate cash outflows or a decrease in cash.

Issue of notes payable:	$	-Select-Operating ActivitiesInvesting ActivitiesFinancing ActivitiesSchedule of Noncash Investing and Financing TransactionsItem 2
Repayment of notes payable:	$	-Select-Operating ActivitiesInvesting ActivitiesFinancing ActivitiesSchedule of Noncash Investing and Financing TransactionsItem 4
Issue of note payable for patent:	$