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Home Q & A Board Other Fields Homework Help Business Accounting
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tivo tivo
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7 years ago
A company settles a long-term note payable plus interest by paying $68,000 cash toward the principal amount and $5,440 cash for the interest. Under the direct method of reporting interest, the $5,440 would be listed as a(n):
A) operating activity.
B) financing activity.
C) investing activity.
D) separate disclosure only.
Textbook 
Financial Accounting

Financial Accounting


Edition: 3rd
Authors:
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antonio_johnantonio_john
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Massachusetts Institute of Technology
-- Accounting

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tivo Author
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#2
7 years ago
Thank you for helping me with my accounting homework, will ask again
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