In shannon company there was an increase in the land, Ask an Expert

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In Shannon Company, there was an increase in the land account during the year of $48,000. Analysis reveals that the change resulted from a cash sale of land at a cost $110,000, and a cash purchase of land for $158,000. In the statement of cash flows, the change in the land account should be reported in the investment section:

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Accounting Basics, Accounting

Category:- Accounting Basics
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