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the following information is available from the land account: Line Item Description Amount Opening balance $ 2 5 0 , 0 0 0 Sold for

the following information is available from the land account:
Line Item Description Amount
Opening balance $250,000
Sold for $200,000 cash 180,000 credit entry
Purchased for $100,000 cash and $24,000 note payable 124,000 debit entry
Ending balance 194,000
Items in the investing activities section of the statement of cash flows should include
a. cash paid for purchase of land, $(124,000).
b. loss from land transactions, $(56,000).
c. cash paid for purchase of land, $(100,000).
d. increase in notes payable, $24,000.

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