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If $120,000 of bonds is issued during the year but $200,000 of old bonds are retired during the year, the statement of cash flows will show what impact/line item(s) in the financing activities section?

Net increase in cash of $80,000
Net decrease in cash of $80,000
Increase in cash of $120,000 and a decrease in cash of $200,000
Net loss on retirement of bonds of $80,000

Note: Provide support for your rationale.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91165510

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