Question: During 20x2 all equipment purchased was obtained by using excess cash of the Pennsy inn. The equipment account had a beginning balance of 200,000 and

During 20x2 all equipment purchased was obtained by using excess cash of the Pennsy inn. The equipment account had a beginning balance of 200,000 and an ending balance of 250,000. During 20x2 equipment that cost 20,000 was sold for 5,000. A loss of 2,000 was recorded on this sale. How much was expended during the year for equipment?

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