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What amount should Swifty report

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Reference no: EM132197320

Question - The following information was taken from the 2018 financial statements of Swifty Corporation:

Bonds payable, January 1, 2018 $804000

Bonds payable, December 31, 2018 4710000

During 2018

• A $718000 payment was made to retire bonds payable with a face amount of $794000.

• Bonds payable with a face amount of $325000 were issued in exchange for equipment.

In its statement of cash flows for the year ended December 31, 2018, what amount should Swifty report as proceeds from issuance of bonds payable?

$5035000

$4375000

$3906000

$4317000

Reference no: EM132197320

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