Land Costing $65,000 Was Sold for $125,000 Cash

question 101

Multiple Choice

Land costing $65,000 was sold for $125,000 cash.The gain on the sale was reported on the income statement as an operating expense.On the statement of cash flows, what amount should be reported as an investing activity from the sale of the land?

• A)$5,000
• B)$60,000
• C)$65,000
• D)$125,000

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