ABC Corporation purchased land for $200,000, paying $50,000 in cash and signing a $150,000 mortgage payable. ABC Corporation also incurred $10,000 in closing costs. Requirements: a. Record the purchase of land by ABC Corporation. b. Prepare the journal entry to record the cash payment. c. Record the mortgage payable. d. Determine the total cost of the land, including closing costs. e. Analyze the impact of the land purchase on the balance sheet and statement of cash flows of ABC Corporation.