Question
Land costing $ 140000 was sold for $ 397600 cash. The gain on the sale was reported on the income statement as other income. On
Land costing $140000 was sold for $397600 cash. The gain on the sale was reported on the income statement as other income. On the statement of cash flows, what amount should be reported as an investing activity from the sale of land?
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Intermediate Accounting
Authors: James D. Stice, Earl K. Stice, Fred Skousen
17th Edition
032459237X, 978-0324592375
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