Perez Biofuels Company is preparing its statement of cash flows using the indirect method
Refer to the following information:
1. Repayments on Long-term Notes Payable $58,000
2. New borrowing on Long-term Notes Payable $19,000
Which of the following statements is correct?
A) Net cash used for financing activities is $(39,000 ).
B) Net cash used for investing activities will is $58,000.
C) Net cash provided by financing activities is $39,000.
D) Net cash provided by investing activities is to $39,000.
A .A)
Cash Payment of Notes Payable $(58,000 )
Less: Cash Receipt from Issuance of Notes Payable 19,000
Net Cash Used for Financing Activities $(39,000 )
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