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Knowledge Check 01 Hawley Company uses the direct method of reporting cash flows from operating activities. Hawley sold land with a cost of $8,000. The
Knowledge Check 01 Hawley Company uses the direct method of reporting cash flows from operating activities. Hawley sold land with a cost of $8,000. The company reported a gain on the sale of the land in the amount of $2,000. What was the amount of cash collected from the sale of the land? How is that amount classified in the statement of cash flow? cash f Financing activity Financing activity Investing activity Operating activitiy
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