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Indicate how the transaction is reported on the statement

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Reference no: EM131110696

In 2010, Leppard Inc. issued 1,000 shares of $10 par value common stock for land worth $40,000.

(a) Prepare Leppard's journal entry to record the transaction.

(b) Indicate the effect the transaction has on cash.

(c) Indicate how the transaction is reported on the statement of cash flows. 

Reference no: EM131110696

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