Moore Sales purchased equipment for $50,000 by issuing a six-month note payable.On the statement of cash flows,this transaction would be shown in the ________.

Name: Moore Sales purchased equipment for $50,000 by issuing a six-month note payable.On the statement of cash flows,this transaction would be shown in the ________.
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Question

Quizplus · Accepted Answer

This transaction involves a non-cash exchange where equipment is acquired by issuing a note payable, so it is reported in the non-cash financing and investing activities section.

Moore Sales Purchased Equipment for $50,000 by Issuing a Six-Month