Reporting Land Transactions on Statement of Cash Flows On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows: ACCOUNT Land ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 995,000 Mar. 12 Purchased for cash 308,000 1,303,000 Oct. 4 Sold for $169,000 145,000 1,158,000 Item Mar. 12: Purchase of fixed asset Section of Statement of Cash Flows Added or Deducted Amount Investing activities section Deducted 308,000 Oct. 4: Sale of fixed asset Investing activities section Added 139,000 X Gain on sale of fixed asset (assume the indirect method) Operating activities section Deducted 145,000 X Reporting Issuance and Retirement of Long-Term Debt On the basis of the details of the following bonds payable and related discount accounts, indicate the items to be reported in the Financing Activities section of the statement of cash flows, assuming no gain or loss on retiring the bonds: ACCOUNT Bonds Payable ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 580,000 June 30 Retire bonds Issue bonds 116,000 464,000 348,000 812,000 ACCOUNT Discount on Bonds Payable ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 26,100 2 Retire bonds 9,280 16,820 June 30 Issue bonds 23,300 40,120 Dec. 31 Amortize discount 2,010 38,110 Item Retire bonds Issue bonds Amortization of discount Section of Statement of Cash Flows Financing activities section Financing activities section Operating activities section, if indirect method used Added or Deducted Deducted Added Amount $ $ Added $