Cloud Industries acquired a $1,800,000 building by issuing a $1,800,000 note payable due to Square Bank.
a. In terms of cash flow reporting, what type of transaction is this?
b. What special disclosure is required for this transaction?

Question

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The Answer of Cloud Industries acquired a $1,800,000 building by issuing a $1,800,000 note payable due to Square Bank.
a. In terms of cash flow reporting, what type of transaction is this?
b. What special disclosure is required for this transaction?

Cloud Industries Acquired a $1,800,000 Building by Issuing a $1,800,000