The following selected information is from Ellerby Company’s comparative balance sheets.

At December 31 2008 2007 Furniture . . . . . . . . . . . . . . . . . . . . . . . . . . . . $132,000 $ 184,500 Accumulated depreciation—Furniture . . . . . . . (88,700) (110,700 The income statement reports depreciation expense for the year of $18,000. Also, furniture costing $52,500 was sold for its book value. Compute the cash received from the sale of the furniture.AppendixLO1