Hollander Company Gave a Long- Term Note Payable in the Amount

question 94

Multiple Choice

Hollander Company gave a long- term note payable in the amount of $285,000 to acquire a new piece of equipment. This transaction will be reported on the statement of cash flows as a:

• A) $285,000 investing inflow and $285,000 financing outflow
• B) $285,000 operating outflow and $285,000 financing inflow
• C) noncash transaction reported in a separate schedule
• D) $285,000 investing outflow and $285,000 financing inflow

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