QUESTION 5 A company buys land for $10,000 by making a $2,000 cash downpayment and assuming an $8,000 mortgage. How would the company account for the transaction? O a. Credit land for $10,000, debit cash for $2,000 and debit mortgage payable for $8,000. O b. Debit land for $10,000, credit cash for $2,000 and credit mortgage payable for $8,000. Oc Credit land for $10,000, debit cash for $2,000 and debit accounts payable for $8,000. O d. None of the above QUESTION 6 The Bi-Out Company had a net loss of $225,000 in 2015. The following additional information also was provided: Dividends declared but not paid $40,000 Increase in accounts payable $30,000 Proceeds from the sale of convertible preferred stock $50,000 Depreciation expense $100,000 Proceeds from the sale of bonds $50,000 What was the amount of cash provided or used from operating activities in 2015? O a. -$225,000 O b.-$155,000 O c. $95,000 d. $5,000