Mar 21 • General discussion💬
Test Your Knowledge
In the Accounting Cycle course, John bought a car. Now he asks:
“How will my financial statements be affected if I pay off the $45,000 loan in three months?”
Comment your answer below.
Explain how this decision would affect the Income Statement, Balance Sheet, and Cash Flow Statement.
Think through the full picture, not just one piece.
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Test Your Knowledge
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