In 2020, Pronghorn Inc. issued 1,000 shares of $10 par value common stock for land worth $47,400.

(a) Prepare Pronghorn's journal entry to record the transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation

Debit

Credit

select an account title

enter a debit amount

enter a credit amount

select an account title

enter a debit amount

enter a credit amount

select an account title

enter a debit amount

enter a credit amount

(b) Indicate the effect the transaction has on cash. select an effect

(c) Indicate how the transaction is reported on the statement of cash flows.

Pronghorn Inc.

Statement of Cash Flows (Partial)

choose the accounting period

select an opening section name

select an item

$enter a dollar amount