Exercise 12-11 (Algo) Reconstructed entries LO P3 For each of the following separate transactions: 1. Sold a building costing $32,000, with $20,800 of accumulated depreciation, for $8,800 cash, resulting in a $2,400 loss. 2. Acquired machinery worth $10,800 by issuing $10,800 in notes payable. 3. Issued 1,080 shares of common stock at par for $2 per share. 4. Long-term notes payable with a carrying value of $40,400 were retired for $47,800 cash, resulting in a $7,400 loss. (a) Prepare the reconstructed journal entry. (b) Identify the effect it has, if any, on the investing section or financing section of the statement of cash flows. Complete this question by entering your answers in the tabs below. Prepare the reconstructed journal entry. Journal entry worksheet 234 Record sale of building. 2. Complete the T-account to calculate the cash paid for dividends during the current year