On January $1,$ Year $1,$ Shelton Company had a balance of $$325,000$ in its Land account. During Year $1,$ Shelton sold land that had cost $$106,500$ for $$132,000$ cash. The balance in the Land account on December $31,$ Year $1,$ was $$285,000.$

Required

Determine the cash outflow for the purchase of land during Year $1.$

Prepare the investing activities section of the Year $1$ statement of cash flows.On January $1,$ Year $1,$ Shelton Company had a balance of $$325,000$ in its Land account. During Year $1,$ Shelton sold land that had cost

$$106,500$ for $$132,000$ cash. The balance in the Land account on December $31,$ Year $1,$ was $$285,000.$

Required

a$.$ Determine the cash outflow for the purchase of land during Year $1.$

b$.$ Prepare the investing activities section of the Year $1$ statement of cash flows.

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Determine the cash outflow for the purchase of land during Year $1.$

Cash outflow for purchase of land