If Salem Co. retires $10 million of these bonds by purchasing them from bondholders at current market price, the company will report:
A) A $600,000 cash receipt from operating activities.
B) A $9.4 million cash payment for operating activities.
C) A $600,000 cash receipt from financing activities.
D) A $9.4 million cash payment for financing activities.
Correct Answer:
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