Kato Company's land account had an $80,000 beginning balance and a $60,000 ending balance. During the accounting period, Kato purchased land costing $10,000. No gain or loss on the sale of land was shown on the income statement. Based on this information alone, Calculate the amount of cash inflow from the sale of land?

Answer rating: 100% (QA)

Answer I To find the cash inflow from the sale of land we need to f... View the full answer