The 2022 balance sheet of Lunar Outfitters Inc. shows long-term debt of $5.4 million, and the 2023 balance sheet shows long-term debt of $5.0 million. The 2023 income statement shows interest expense of $150,000. What was the firm's cash flow to creditors during 2023?

The 2022 balance sheet of Lunar Outfitters Inc. shows long-term debt of $5.4 million, and the 2023 balance sheet shows long-term debt of $5.0 million. The 2023 income statement shows interest expense of $150,000. What was the firm's cash flow to creditors during 2023?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter16: Statement Of Cash Flows

Section: Chapter Questions

Problem 15EB: Use the following excerpts from Bolognese Companys statement of cash flows and other financial...

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I need guidance with this financial accounting problem using the right financial principles.

The 2022 balance sheet of Lunar Outfitters Inc. shows long-term debt of
$5.4 million, and the 2023 balance sheet shows long-term debt of $5.0
million. The 2023 income statement shows interest expense of $150,000.
What was the firm's cash flow to creditors during 2023?

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