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Cleft Company Had the Following Account Balances on Its Balance  Long-term Bonds Payeble 12/31/12$39,00012/31/11$36000\text { Long-term Bonds Payeble } \quad \frac { 12 / 31 / 12 } { \$ 39,000 } \quad \frac { 12 / 31 / 11 }{\$36000}

Question 41

Multiple Choice

Cleft Company had the following account balances on its balance sheet at December 31,2012 and 2011,respectively:
 Long-term Bonds Payeble 12/31/12$39,00012/31/11$36000\text { Long-term Bonds Payeble } \quad \frac { 12 / 31 / 12 } { \$ 39,000 } \quad \frac { 12 / 31 / 11 }{\$36000} Assume no bonds were retired during 2012.What was the negative cash flow associated with long-term debt for Cleft Company in 2012?


A) $10,000
B) $4,000
C) $7,000
D) $0
E) $3,000

Correct Answer:

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