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5 1. Sold a building costing $30,000, with $20,000 of accumulated depreciation, for $8,000 cash, resulting in a $2.000 loss 2. Acquired machinery worth $10,000 by Issuing $10,000 in notes payable. 3. Issued 1,000 shares of common stock at par for $2 per share. 4. Long-term notes payable with a carrying value of $40,000 were retired for $47.000 cash, resulting in a $7,000 loss. 0.5 points (a) Prepare the reconstructed journal entry. (b) Identify the effect it has, if any, on the investing section or financing section of the statement of cash flows. Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Prepare the reconstructed journal entry No Credit Transaction (a) 1 O General Journal Cash Accumulated depreciation Building Loss on sale of building Debit 8,000 20,000 2.000 2 (b) 10,000 Machinery Noles payable 10,000 S 3 (c) 2.000 Cash Common stock 2,000 4 (0) 40,000 Notes payable Los on retirement of debt Cash 7,000 47.000 Required B > 5 1. Sold a building costing $30,000, with $20,000 of accumulated depreciation, for $8,000 cash, resulting in a $2,000 loss. 2. Acquired machinery worth $10,000 by Issuing $10,000 in notes payable. 3. Issued 1,000 shares of common stock at par for $2 per share. 4. Long-term notes payable with a carrying value of $40,000 were retired for $47.000 cash, resulting in a $7.000 loss. 0.5 points (a) Prepare the reconstructed journal entry (b) Identify the effect it has. If any, on the investing section or financing section of the statement of cash flows. Answer is not complete Complete this question by entering your answers in the tabs below. Required A Required B Identify the effect it has, if any, on the investing section or financing section of the statement of cash flows. (Amounts to be deducted should be indicated by a minus sign.) Statement of Cash Flows (partial Cashflows strom investing activities Cathrooved from sale of Bullding 8.000 $ 8.000 Not cash provided by investing activities Cash flows from finanong activities Cash received from issuing stock Cash paid to retire notes OS 2.000 (47.000) S $145,000) Net cathed in francing activities

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