please hurry - keys corp's transaction for the year ended december 31, 2020 included the following: ⚫ borrowed 2,500,000 from a bank, and then used the cash to purchase a real estate ⚫ sold available - for sale securities for $2,000,000 ⚫paid dividends of $2,400,000 ⚫ issued 500 shares of common stock for $1,000,000 ⚫purchased machinery and equipment for $500,000 cash paid $1,800,000 toward a bank loan • reduced A/R by $400,000 ⚫ increased A/P $800,000 Key's net cash used in financing activities for 2020 was: a) 900,000 b) 1,800,000 c) 700,000 d) 1,700,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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please hurry - keys corp's transaction for the year
ended december 31, 2020 included the following:
⚫ borrowed 2,500,000 from a bank, and then used
the cash to purchase a real estate
⚫ sold available - for sale securities for $2,000,000
⚫paid dividends of $2,400,000
⚫ issued 500 shares of common stock for $1,000,000
⚫purchased machinery and equipment for $500,000
cash
paid $1,800,000 toward a bank loan
• reduced A/R by $400,000
⚫ increased A/P $800,000
Key's net cash used in financing activities for 2020
was:
a) 900,000
b) 1,800,000
c) 700,000
d) 1,700,000
Transcribed Image Text:please hurry - keys corp's transaction for the year ended december 31, 2020 included the following: ⚫ borrowed 2,500,000 from a bank, and then used the cash to purchase a real estate ⚫ sold available - for sale securities for $2,000,000 ⚫paid dividends of $2,400,000 ⚫ issued 500 shares of common stock for $1,000,000 ⚫purchased machinery and equipment for $500,000 cash paid $1,800,000 toward a bank loan • reduced A/R by $400,000 ⚫ increased A/P $800,000 Key's net cash used in financing activities for 2020 was: a) 900,000 b) 1,800,000 c) 700,000 d) 1,700,000
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