On August 1, Year 1, Jackson Company issued a one-year \$80,000 face value interest-bearing note with a stated interest rate of 9% to Galaxy Bank. Jackson accrues interest expense on December 31, Year 1, its calendar year-end.
What is the cash flow from financing activities that will be reported during the year ending December 31, Year 1?
Multiple Choice
\$0
\$83,000 inflow
(\$87,200) outflow
\$80,000 inflow