In the Nowak Company, the beginning and ending balances in Land were $132,000 and $160,000 respectively. During the year, land costing $30,000 was sold for $30,000 cash, and land costing $58,000 was purchased for cash. The entries in the reconciling columns of the worksheet will include a:
a. credit to Land $30,000 and a debit to Sale of Land $30,000 under investing activities.
b. debit to Land $58,000 and a credit to Purchase of Land $58,000 under financing activities.
c. debit to Land $28,000 and a credit to Sale of Land $28,000 under investing activities.
d. credit to Land $30,000 and a debit to Sale of Land $30,000 under financing activities.