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. BalanceDate Item Debit Credit Debit Credit Jan. 1 Balance 156,000 Feb. 10 Purchased for cash 246,000 402,000 Nov. 20 Purchased with long-term mortgage note 324,000 726,000 Item Section of Statement of Cash Flows Added or Deducted Amount Purchase of land for cash Investing activities section Deducted Purchase of land by issuing long-term mortgage note Separate schedule Report only
