Question
Bay Inc. sold a patent for cash. The patent was originally acquired for $64,500, and the accumulated amortization as of the date of sale was
Bay Inc. sold a patent for cash. The patent was originally acquired for $64,500, and the accumulated amortization as of the date of sale was $37,200. The loss on the sale was $1,700. What is the amount of cash received on the sale?
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Intermediate Accounting principles and analysis
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
2nd Edition
978-0471737933
