Arturo Sales purchased some equipment for $12,000 by issuing a six-month note payable.This will appear in the non-cash investing and financing activities section of the statement of cash flows.

Question

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Purchasing equipment through a note payable involves a non-cash transaction, which is reported in the non-cash investing and financing activities section of the statement of cash flows.

Arturo Sales Purchased Some Equipment for $12,000 by Issuing a Six-Month