On January 1, 2012, Chan Enterprises borrowed $100,000 from a bank on a three-year mortgage...
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Accounting
On January 1, 2012, Chan Enterprises borrowed $100,000 from a bank on a three-year mortgage with an interest rate of 5% per year. On December 30, 2012, Chan paid the bank $36,721. Chan uses US GAAP to prepare its financial statements.
Which of the following items would be decreased by the mortgage payment? (check all that apply)
A) Cash from Operating Activities
B) Cash from Financing Activities
C) Mortgage Payable
D) Cash from Investing Activities
E) Net Income
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