Question: Tiffany Inc. issued a 9% note payable to First Choice Bank for $100,000 with 10 equal payments of $15,582 (principal plus interest) due at the

Tiffany Inc. issued a 9% note payable to First Choice Bank for $100,000 with 10 equal payments of $15,582 (principal plus interest) due at the end of each year. Indicate the impact on the financing activity section of the statement of cash flows of the first installment payment. Payment of notes payable of ($15,582) Payment of notes payable ($6,582) Payment for interest of ($9,000) None of the above

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