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Category > Accounting Posted 06 May 2017 My Price 5.00

National Food Services, Inc., borrowed $4 million

Installment note; statement of cash flow effects

National Food Services, Inc., borrowed $4 million from its local bank on January 1, 2016, and issued a 4-year installment note to be paid in four equal payments at the end of each year. The payments include interest at the rate of 10%. Installment payments are $1,261,881 annually

Required:

What would be the amount(s) related to the note that National would report in its statement of cash flows for the year ended December 31, 2016?

 

 

Answers

Alpha Geek
(8)
Status NEW Posted 06 May 2017 04:05 PM My Price 5.00

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file 1494086879-Answer.docx preview (91 words )
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