During the year, the company sold equipment that originally cost $61,000. Accumulated depreciation associated with the equipment

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During the year, the company sold equipment that originally cost $61,000. Accumulated depreciation associated with the equipment was $17,500. A gain of $8,500 on the sale of the equipment was recognized. How much cash was received from the sale?

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Intermediate Accounting

ISBN: 978-0324592375

17th Edition

Authors: James D. Stice, Earl K. Stice, Fred Skousen

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Question Posted: Jan 29, 2012 12:35 AM

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During the year, the company sold equipment that originally cost $61,000. Accumulated depreciation associated with the equipment

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Original cost of equipment 61000 Accumulated ...View the full answer

Intermediate Accounting

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