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Beginning and ending plant assets are, respectively, $325,000 and $370,000. Beginning and ending accumulated depreciation is, respectively, $82,800 and $95,000. Depreciation expense for the period
Beginning and ending plant assets are, respectively, $325,000 and $370,000. Beginning and ending accumulated depreciation is, respectively, $82,800 and $95,000. Depreciation expense for the period was $30,000, and new assets of $76,000 were purchased. Plant assets were sold at a $10,500 loss. What were the cash proceeds from the sale?
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