V. Value 10 points Selected transactions of Alton Company are listed below. 1. Common stock is sold for cash above par value. 2. Bonds payable are issued for cash at a discount. 3. Interest receivable on a short-term note receivable is collected. 4. Land is sold for cash at book value. 5. Accounts payable are paid in cash. 6, Equipment is purchased by signing a 3-year, 10% note payable. paid. cash. Cash dividends on common stock are declared and 100 shares of XYZ common stock are purchased for Merchandise is sold to customers for cash. 8. 9. 10. Bonds payable are converted into common stock. Instructions Classify each transaction as either (a) an operating activity, ()