Alpha Corporation purchased land for $125,000. Later in the year, the company sold land with a book…


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Alpha Corporation purchased land for $125,000. Later in the year, the company sold land with a book… 1 answer below ยป Alpha Corporation purchased land for $125,000. Later in the year, the company sold land with a book value of $165,000 for $200,000. How are the effects of these transactions reported on the statement of cash flows? Sales reported on the income statement were $350,000. The accounts receivable balance declined $8,000 over the year. Determine the amount of cash received from customers. Cost of merchandise sold reported on the income statement was $145,000. The accounts payable balance increased $4,000, and the inventory balance increased by $9,000 over the year. Determine the amount of cash paid for merchandise. Jul 18 2014 01:00 PM

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