On August 1, Year 1, Jackson Company issued a one-year $66,000 face value interest-bearing note...
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Accounting
On August 1, Year 1, Jackson Company issued a one-year $66,000 face value interest-bearing note with a stated interest rate of 9.00% to Galaxy Bank. Jackson accrues interest expense on December 31, Year 1, its calendar year-end. What is the cash flow from financing activities that will be reported during the year ending December 31, Year 1?
Group of answer choices
($71,940) outflow
$66,000 inflow
$68,475 inflow
$0
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