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Hi Mr. Little,
May I ask how was the interest paid worked out in this cash flows exam question. The solution of 500 was provided directly without any working, but I cannot find anywhere the interest payment was mentioned in the question. And I can’t find interest payable in the balance sheets of both years, so I really don’t understand how this figure was arrived at.
Could you help me point out please?
Thank you.
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500
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so you mean this company paid exactly the 500 finance charge? Thank you.
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Thank you. Tricky that.
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