Mountain Water Corp. issued common stock of $28,000 to pay off long-term notes payable of$28,000. In what section(s) would these transactions be recorded? a. Financing activities payment of note, $(28,000) b. Financing activities cash receipt,$28,000 c. Non-cash investing and financing activities, $28,000 d. Both a and b are correct.


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Answered 1 year ago
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This problem requires us to identify how to present the issuance of common stock as payment to long term debt in the statement of cash flows

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