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3.Property, plant and equipment had a book value of $300,000 at the beginning of the year and an ending balance of $240,000. The income statement
3.Property, plant and equipment had a book value of $300,000 at the beginning of the year and an ending balance of $240,000. The income statement reported depreciation expense of $30,000 and gain on the sale of equipment of $15,000. The cash flow statement reported purchases of fixed assets totaling $45,000. How much was the cash received from the sale of equipment?
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