Transcribed Image Text: Reporting Land Acquisition for Cash and Mortgage Note on Statement of Cash Flows On the basis of the details of the following fixed asset account, indicate the

Transcribed Image Text: Reporting Land Acquisition for Cash and Mortgage Note 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
256,200
Feb. 10
Purchased for cash
389,400
645,600
Nov. 20
Purchased with long-term mortgage note
522,900
1,168,500
Item
Section of Statement of Cash Flows
Added or Deducted
Amount
Purchase of land for cash
Purchase of land by issuing
long-term mortgage note

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