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Cash Received from the Issuance of Notes Payable Is A(n)________

question 133

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Cash received from the issuance of notes payable is a(n) ________ activity on the statement of cash flows.


Definitions:

Supplies

Items used in the operation of a business that are not directly associated with the products or services being sold, such as office supplies.

Contra-Asset

An account that reduces the value of an asset account with which it is paired, used to account for allowances, depreciations, or impairments.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against an asset over its useful life to date.

Contra-Asset

An account that decreases the balance of its associated asset account through a contra entry.

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