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On January 1, 2011, Ace Electronics borrowed $40,000 on a five-year, 7% note. The loan...

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Accounting

On January 1, 2011, Ace Electronics borrowed $40,000 on a five-year, 7% note. The loan will be repaid in 5 equal installments of $9,756 each year, beginning on December 31, 2011. On its statement of cash flows for the year ended December 31, 2011, Ace will show cash paid for interest as ________ activity.

$(9,756), an operating $(2,800), a financing $(9,756), a financing $(2,800), an operating

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