Augusta Company reported that its bonds with a face value of $40,000 and a carrying value of $42,400 are retired for $44,800 cash.The amount to be reported under cash flows from financing activities is:
A)($42,400).
B)($2,400).
C)($44,800).
D)$0;this is an operating activity.

Question

Quizplus · Accepted Answer

The cash outflow from financing activities is $44,800,the amount of cash paid to retire the bonds payable.

Augusta Company Reported That Its Bonds with a Face Value