Exercise 16-11 (Algo) Reconstructed entries LO P3 For each of the following separate transactions: 1. Sold a building costing $33,500, with $21,400 of accumulated depreciation, for $9.400 cash, resulting in a $2,700 loss, 2. Acquired machinery worth $11,400 by Issuing $11,400 in notes payable. 3. Issued 1,140 shares of common stock at par for $2 per shore. 4. Long-term notes payable with a carrying value of $40,700 were retired for $48,400 cash, resulting in a $7,700 loss. ce (a) Prepare the reconstructed journal entry. (b) Identify the effect it hos, 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. o riepare u LUNDU ULICU juurd emy. (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. Required A Required B Prepare the reconstructed journal entry. View transaction list Journal entry worksheet > Record sale of building. Note: Enter debits before credits General Journal Credit Transaction (a) Debit 9,400 - Cash Accumulated depreciation Building Loss on sale of building Building 21.400 2,700 33,500 Record entry Clear entry View general journal Required B > For each of the following separate transactions: 1. Sold a building costing $33,500, with $21,400 of accumulated depreciation, for $9.400 cash, resulting in a $2,700 loss. 2. Acquired machinery worth $11,400 by issuing $11.400 in notes payable. 3. Issued 1140 shares of common stock at par for $2 per share. 4. Long-term notes payable with a carrying value of $40,700 were retired for $48,400 cash, resulting in a $7,700 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. Required A Required B Identify the effect it has, if any, on the investing section or financing section of the statement of cash flows. (Amounts to be deducted should be indicated by a minus sign.) Statement of Cash Flows (partial) Cash flows from investing activities Cash paid for dividends $ 9,400 Cash received from sale of Building (9.400) $ 0 Cash flows from financing activities Cash received from issuing stock $ 2,280 Cash paid to retire notes (48,400) Not cash used in financing activities $ (46,120)