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How should mead report the acquisition

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Reference no: EM131796792

Mead Motors purchases an automobile for its new car inventory from Generous Motors which finances this transaction through its financial subsidiary, Generous Motors Credit Company. Mead pays no funds to Generous Motors or GMCC untilj it sells the automobile. Mead must repay the balance of the loan plus interest to GMCC. How should Mead report the acquisition and repayment transactions in its Statement of Cash Flows.

Reference no: EM131796792

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