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Determine which is correct for statement of cash flow

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Reference no: EM132489172

Question 1: During the year, we made a payment of long-term notes payable of $20,000 and borrowed $45,000 on a long-term note payable. Which of the following is correct for our statement of cash flows?

Group of answer choices

Option 1: Net cash used for financing activities is ($25,000).

Option 2: Net cash provided by investing activities is $25,000.

Option 3: Net cash provided by financing activities is $25,000.

Option 4: Net cash used for financing activities is ($45,000).

Reference no: EM132489172

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