Problemthe jarvis company issued a 40000 face value, Ask an Expert

Accounting

Problem:

The Jarvis Company issued a $40,000 face value interest bearing note with a stated interest rate of 9%, and a one-year term. The note was issued to the National Bank on August 1, 2013. Assume interest is payable at maturity.

Required:

The amount of cash inflow from financing activities on the 12/31/2013 statement of cash flows would be:

40000
0
41500
43600

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91164931

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