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It still says not complete? Thanks. For each of the following separate transactions: 1. Sold a bullding costing $37,000, with $22,800 of accumulated depreciation, for
It still says not complete? Thanks.
For each of the following separate transactions: 1. Sold a bullding costing $37,000, with $22,800 of accumulated depreciation, for $10,800 cash, resulting in a $3,400 loss. 2. Acquired machinery worth $12,800 by issuing $12,800 in notes payable. 3. Issued 1,280 shares of common stock at par for $2 per share. 4. Long-term notes payable with a carrylng value of $41,400 were retlred for $49,800 cash, resulting in a $8,400 loss. (a) Prepare the reconstructed journal entry. (b) Identlfy 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. 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.)Step by Step Solution
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