On July 15, 2024, M.W. Morgan Distribution sold land for $35 million that it had purchased in
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On July 15, 2024, M.W. Morgan Distribution sold land for $35 million that it had purchased in 2019 for $22 million. What would be the amount(s) related to the sale that Morgan would report in its statement of cash flows for the year ended December 31, 2024, using the direct method? The indirect method?
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in millions Cash 35 Gain on sale of landdifference 13 Land cost 22 Morgan would report the cash ...View the full answer
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