On October 31, 2011, Bondable, Inc. issued $20,000 of 10-year, 6% bonds at 100.

Question

On October 31, 2011, Bondable, Inc. issued $20,000 of 10-year, 6% bonds at 100. The bonds pay interest annually on October 31. On its statement of cash flows for the year ended December 31, 2011, Bondable will show Cash paid for interest of ________. (Points : 2)
1. $0
2. $(120) in the cash flows from operating activities section of the statement
3. $(200) in the cash flows from financing activities section of the statement
4. $(1,200) in the cash flows from operating activities section of the statement

Explanation / Answer

3. $(200) in the cash flows from financing activities section of the statement

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