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Question Z 20 pts Buck's Dilemma: Gross or Net? Required: For each of the following scenarios, on the basis of the specific facts and circumstances, determine whether Buck should present its borrowing and payment activity under the Facility on a net or gross basis within the financing activities section of its statement of cash flows. Scenario 1: . The line of credit has a maximum borrowing capacity of $100 million, and under the terms of the agreement, all draws are considered to be due on demand. . On July 15, 2010, Buck drew $60 million on the Facility. . On August 30, 2010, Buck drew an additional $40 million on the Facility. . On September 30, 2010, Buck paid down the draws by $50 million. . Assume the turnover of transactions is considered to be quick. HTML Editor