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a. Equipment with a book value of $80,500 and an original cost of $162,000 was sold at a loss of $35,000. b. Paid $106,000 cash
| a. | Equipment with a book value of $80,500 and an original cost of $162,000 was sold at a loss of $35,000. |
| b. | Paid $106,000 cash for a new truck. |
| c. | Sold land costing $330,000 for $425,000 cash, yielding a gain of $95,000. |
| d. | Long-term investments in stock were sold for $97,700 cash, yielding a gain of $14,000. |
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Fundamental Accounting Principles
Authors: Larson Kermit, Tilly Jensen
Volume I, 14th Canadian Edition
71051503, 978-1259066511, 1259066517, 978-0071051507
