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Question(s) / Instruction(s):

A company reported that its bonds with a par value of $50,000 and a carrying value of $57,000 are retired for $60,000 cash, resulting in a loss of $3,000. The amount to be reported under cash flows from financing activities is:

a)            $(60,000).

b)            Zero. This is an operating activity.

c)            Zero. This is an investing activity.

d)            $(3,000).

e)            $(57,000).

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