Rachael Ray Corporation had the following transactions

| March 31, 2017

Question
Rachael Ray Corporation had the following transactions.
1. Sold land (cost $12,000) for $15,000
2. Issued common stock for $20,000
3. Recorded depreciation of $17,000
4. Paid salaries of $9,000
5. Issued 1,000 shares of $1 par value common stock for equipment worth $8,000
6. Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200
Instructions
For each transaction above,
(a) Prepare the journal entry, and
(b) Indicate how it would affect the statement of cash flows.
(For multiple debit/credit entries, list amounts from largest to smallest eg: 10, 5, 3, 2.)

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