Tim Latimer Corporation had the following transactions.
Sold land (cost $11,762) for $14,703.
Issued common stock for $18,581.
Recorded depreciation of $15,797.
Paid salaries of $9,291.
Issued 1,028 shares of $1 par value common stock for equipment worth $7,489.
Sold equipment (cost $13,010, accumulated depreciation $9,107) for $1,561.
Instructions: For each transaction above, (a) prepare the journal entry, and (b) indicate how it would affect the statement of cash flows.