The plant Assets account and Accumulated Depreciation -- Plant Assets account of Star Media shown the following:

Star Media sold plant assets at an $11,000 loss. Where on the statement of cash flows should Star Media report the sale of plant assets? How much should the business report for the sale?
a. Financing cash flows-cash receipt of $42.000
b. Investing cash flows-cash receipt of 553.000
c. Investing cash flows-cash receipt of $31,000
d. Investing cash flows-cash receipt of 542,000

Transcribed Image Text:

Plant Assets 100,000 Beg. Acquisitions 428,000 52,500 Disposals End. 475,500 Accumulated Depreciation Plant Assets 20,000 12/31/2014 Disposals 10,500 34,000 Depr. Exp. 43,500 2/31/2015