Kela Corporation reports a net income of $450,000 that includes a depreciation expense of $70,000. Also, cash of $50,000 was borrowed on a 5-year note payable. Based on this data, the total cash inflows from operating activities are: a. $380,000. b.
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Flipco signed a 15 -year note payable on January 1, 2018 , of $900,000. The note requires annual principal payments each December 31 of 60,000 plus interest at 10 %. The entry to record the annual payment on December 31, 2022 , includesA.
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