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New York Production Company uses the indirect method to prepare its statement of cash flows. The...

New York Production Company uses the indirect method to prepare its statement of cash flows. The Treasury Stock account had a debit balance of? $8,000 at the beginning of the year and a debit balance of? $16,000 at the end of the year. No treasury stock was sold during the year. The financing section of the statement of cash flows will show a positive cash flow of? $8,000 for the buyback of treasury stock. True or False

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