Pier2 Company purchased equipment with a useful life of 10 years for $36,000. Pier2 paid one-third down and signed a two-year, interest-bearing note for the balance. Indicate how the transaction would be reported in the statement of cash flows and/or any note disclosure?

Answer rating: 100% (QA)

The purchase of equipment by Pier2 Company would be reflected in both the cash flow statemen... View the full answer