Vales Services Company loaned $6,000 on August 1, Year 1 to an individual who issued Vales a promissory note with 6% interest. The issuer of the note repaid the principal and interest on July 30, Year 2. How did the event on August 1, Year 1 affect the statement of cash flows? How did the event on July 30, Year 2 affect the statement of cash flows?

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The Answer of Vales Services Company loaned $6,000 on August 1, Year 1 to an individual who issued Vales a promissory note with 6% interest. The issuer of the note repaid the principal and interest on July 30, Year 2. How did the event on August 1, Year 1 affect the statement of cash flows? How did the event on July 30, Year 2 affect the statement of cash flows?

Vales Services Company Loaned $6,000 on August 1, Year 1