Rainbow Company collected the following from its 2017 accounting records: 

From the income statement: Depreciation expense $1,100 Loss on sale of equipment 3,100 From the comparative balance sheet: 

Beginning balance, equipment $12,500 Ending balance, equipment 7,900 Beginning balance, accumulated depreciation 1,900 Ending balance, accumulated depreciation 2,300 No new equipment was purchased during the year. 

What was the cash inflow from the sale of equipment in 2017?

Answer rating: 100% (QA)

Equipment alc Pantiaulara Partiaulak Amount Amou... View the full answer