Exercise 12-17B (Algo) Direct: Classifying cash flows LO C1, P5 Indicate where each item would appear on a statement of cash flows using the direct method by selecting an x in the appropriate column. Statement of Cash Flows Operating Activities Investing Activities Financing Activities a Accepted note receivable in exchange for plant assets. b. Sold inventory for cash c. Collected cash from sales d Paid cash for interest owed e. Purchased land by issuing a note f Recorded depreciation expense g. Paid cash toward taxes owed h. Paid cash toward wages owed Paid cash to acquire treasury stock Collected principal on notes receivable Noncash Investing and Financing Activities Not Reported on Statement or in Notes