Reference no: EM133145501

Question - Terp Corp.'s transactions for the year ended December 31, 2021 included the following:

Purchased real estate for $1,250,000 cash which was borrowed from a bank.

Sold investment securities for $1,000,000.

Paid dividends of $1,200,000.

Issued 500 shares of common stock for $500,000.

Purchased machinery and equipment for $250,000 cash.

Paid $900,000 toward a bank loan.

Reduced accounts receivable by $200,000.

Increased accounts payable $400,000.

Compute the net cash used in financing activities for 2021?