Classify each of the following transactions for the purpose of the statement of cash flow as operating activities (OA),investing activities (IA),financing activities (FA),or not reported on the statement of cash flows (NA).
1)_____Sold land.
2)_____Made adjusting entry to recognize interest revenue on investments.
3)_____Borrowed funds from the bank.
4)_____Paid rent in advance for the next six months.
5)_____Paid cash to settle accrued salary expense.
6)_____Purchased supplies on account.
7)_____Collected accounts receivable.

Question

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The Answer of Classify each of the following transactions for the purpose of the statement of cash flow as operating activities (OA),investing activities (IA),financing activities (FA),or not reported on the statement of cash flows (NA).
1)_____Sold land.
2)_____Made adjusting entry to recognize interest revenue on investments.
3)_____Borrowed funds from the bank.
4)_____Paid rent in advance for the next six months.
5)_____Paid cash to settle accrued salary expense.
6)_____Purchased supplies on account.
7)_____Collected accounts receivable.

Classify Each of the Following Transactions for the Purpose of the Statement