Essay
Kansas Company uses the indirect method to prepare its statement of cash flows.Refer to the following portion of the comparative balance sheet:
Additional information provided by the company includes the following:
During 2019,the company repaid $60,000 of long-term notes payable.
During 2019,the company borrowed $51,000 on a new long-term note payable.
Use the T-account format to evaluate the transactions affecting the long-term notes payable account.
Correct Answer:

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\[\begin{array}{l}
\text { Long-Term Not...View Answer
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Correct Answer:
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\text { Long-Term Not...
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