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View Policies Cullumber Corporation had the following transactions. 1. 2. 3. 4. 5. 6. Sold land (cost $10,900) for $13,400. Issued common stock at par for $20,000. Recorded depreciation on buildings for $15,900. the Paid salaries of $7,900. Issued 800 shares of $1 par value common stock for equipment worth $6,400. Sold equipment (cost $8,400, accumulated depreciation $5,880) for $1,008.

Cullumber Corporation had the following transactions. 1. Sold land (cost $10,900) for $13,400. 2. Issued common stock at par for $20,000. 3. Recorded depreciation on buildings for $15,900. 4. Paid salaries of $7,900. 5. Issued 800 shares of $1 par value common stock for equipment worth $6,400. 6. Sold equipment (cost $8,400, accumulated depreciation $5,880 ) for $1,008. For each transaction above, prepare the journal entry. (Credit account titles are automatically indented when amount is entered. Do not ndent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) For each transaction above, indicate how it would affect the statement of cash flows using the indirect method. (Select "Not Renorted" if it is not reported on the statement of cash flows. Select "Not Appllcabte" if it does not belong to any section.)

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