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dezoksy [38]
3 years ago
14

Mountain water corp. issued common stock of​ $28,000 to pay off​ long-term notes payable of ​$28,000. in what​ section(s) would

these transactions be​ recorded?
Business
1 answer:
navik [9.2K]3 years ago
7 0
These transactions would be recorded in the <span>non-cash investing and financing activities. Since this that does not directly affect the cash on hand, instead, the</span> issuance of common stock to retire long-term debt is done. 
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The answer is given below;

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Explanation:

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