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Amanda Company purchased a computer that cost $12,300. It had an estimated useful life of three years and a residual value of $2,150. The computer

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Amanda Company purchased a computer that cost $12,300. It had an estimated useful life of three years and a residual value of $2,150. The computer was depreclated by the straight-line method and was sold at the end of the third year of use for $6,520 cash. Which of the following statements correctly describes the computer sale? Assets and stockholders' equity both increase by $4.370 O Assets decrease $6,520 and stockholders' equity is not affected. O Assets and stockholders' equity both increase by $6,520. Assets and stockholders' equity both decrease by $4,370

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