Effect of Transactions on Cash Flows State the effect (cash receipt or cash payment and amount) of each of the following transactions, considered individually, on cash flows: a. Retired $310,000 of bonds, on which there was $3,100 of unamortized discount, for $322,000. b. Sold 7,000 shares of $30 par common stock for $61 per share. c. Sold equipment with a book value of $61,700 for $88,800. d. Purchased land for $518,000 cash. e. Purchased a building by paying $67,000 cash and issuing a $90,000 mortgage note payable. f. Sold a new issue of $190,000 of bonds at 98. g. Purchased 3,900 shares of $30 par common stock as treasury stock at $56 per share. h. Paid dividends of $2.30 per share. There were 30,000 shares issued and 5,000 shares of treasury stock. Effect Amount Cash payment b. Cash receipt Cash receipt d. Cash payment e. Cash payment f. Cash receipt g. Cash payment h. Cash paymentReporting Land Transactions on Statement of Cash Flows 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. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 1,140,000 Mar. 12 Purchased for cash 388,000 1,528,000 Oct. 4 Sold for $212,000 182,000 1,346,000 Section of Statement of Item Cash Flows Added or Deducted Amount Mar. 12: Purchase of fixed asset Investing activities section Deducted Oct. 4: Sale of fixed asset Investing activities section Added Gain on sale of fixed asset (assume the indirect method) Operating activities section Deducted