Business, 20.12.2019 02:31, berlyntyler
Polk co. acquires a forklift from quest co. for $30,000. the terms require polk to pay $3,000 down and finance the remaining $27,000. on march 1, year 1, polk pays the $3,000 down and accepted delivery of the forklift. polk signed a note that requires polk to pay principal payments of $1,000 per month for 27 months beginning july 1, year 1. what amount should polk report as an investing activity in the statement of cash flows for the year ended december 31, year 1?
a. $3,000
b. $9,000
c. $12,000
d. $30,000
Answers: 3
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Polk co. acquires a forklift from quest co. for $30,000. the terms require polk to pay $3,000 down a...
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