Question: During 2011 Randy Inc purchased land for 563 000 It paid
During 2011, Randy, Inc., purchased land for $563,000. It paid $188,000 in cash and signed a $375,000 mortgage for the rest. The company also sold equipment that originally cost $135,000, on which it had $105,000 of accumulated depreciation, for $143,000 cash, making a gain of $113,000. Prepare the cash flows from the investing activities section and the schedule of noncash investing and financing transactions of the statement of cash flows.
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