Question: Tiffany Inc. issued a 9 % note payable to first choice bank for $ 1 0 0 , 0 0 0 with 1 0 equal

Tiffany Inc. issued a

9 %

note payable to first choice bank for $

100, 000

with

10

equal payments of $

15, 582

parentheses principle plus interest due at the end of each year. Indicate the impact on the financing activity section of the statement of cash flows of Tiffany from the first installment payment.

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