Madison Company issued an interest-bearing note payable with a face value of $25,200 and a stated...
Madison Company issued an interest-bearing note payable with a face value of $25,200 and a stated interest rate of 8% to Metropolitan Bank on August 1, Year 1. The note carried a one-year term.
Based on this information alone, what is the amount of cash flow from operating activities reported on Madison’s Year 1 statement of cash flows?
Homework Answers
Zero (0)
Issuing an interest bearing note doesn't fall into the ambit of operating activities let alone cash flow. So, zero id is the answer
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Madison Company issued an interest-bearing note payable with a
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