Brief Exercise 21-8 Sale of land [LO21-3, 21-4, 21-5] On July 15, 2018, M.W. Morgan...
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Accounting
Brief Exercise 21-8 Sale of land [LO21-3, 21-4, 21-5]
On July 15, 2018, M.W. Morgan Distribution sold land for $45.5 million that it had purchased in 2013 for $35.0 million. What would be the amount(s) related to the sale that Morgan would report in its statement of cash flows for the year ended December 31, 2018, using the direct method? The indirect method?
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