On the basis of the details of the following fixed asset account, indicate the items to...

 

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On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows: ACCOUNT Land ACCOUNT NO. Date Balance Purchased for cash Item Jan. 1 Feb. 10 Nov. 20 Purchased with long-term mortgage note Item Purchase of land for cash Purchase of land by issuing long-term mortgage note Debit 479,700 637,600 Credit Section of Statement of Cash Flows Balance Debit Credit 307,500 787,200 1,424,800 Added or Deducted Amount On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows: ACCOUNT Land ACCOUNT NO. Date Balance Purchased for cash Item Jan. 1 Feb. 10 Nov. 20 Purchased with long-term mortgage note Item Purchase of land for cash Purchase of land by issuing long-term mortgage note Debit 479,700 637,600 Credit Section of Statement of Cash Flows Balance Debit Credit 307,500 787,200 1,424,800 Added or Deducted Amount

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On the basis of the details provided for the fixed asset account Land the items to be ... View the full answer