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During 2010, Howard Company purchased land for $375,000. It paid $125,000 in cash and signed a $250,000 mortgage for the rest. The company also sold a building that originally cost $90,000, on which it had $70,000 of accumulated depreciation, for $95,000 cash, making a gain of $75,000. Answer the following problems that pertain to the investing activities section and the schedule of noncash investing and financing transactions of the statement of cash flows.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M967799

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