Question 31 --/10 View Policies Current Attempt in Progress The following selected account balances relate to the property.plant, and equipment accounts of Cullumber Inc: 2018 2017 Accumulated depreciation-buildings $335.000 $310.000 Accumulated depreciation equipment 145.000 103,000 Depreciation expense-buildings 25.000 25.000 Depreciation expense-equipment 64.000 42,000 Land 130,000 69,000 Buildings 750,000 750,000 Equipment 305.000 245.000 Gain on disposal (equipment) 4.600 0 Additional information: 1. Purchased $61,000 of land for cash. 2. Purchased $85,000 of equipment for a $15.000 down payment, financing the remainder with a bank loan. Equipment was also sold during the year. Calculate any cash receipts or payments related to the property, plant, and equipment accounts in 2018. $ Land purchase $ Equipment purchase $ Proceeds from disposal of equipment Indicate where each of the cash receipts or payments identified above would be classified on the statement of cash flows or accompanying notes. Land purchase Equipment purchase Proceeds from equipment disposal Note: During the year the company purchased equipment costing $ by paying $15.000 cash and issuing a bank loan payable for $70,000