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Camell Company had the following excerpt from its financial records: 12/31/2021 12/31/2020 Equipment $840,000 $786,000 Accumulated Depreciation Book Value 528,000 $312,000 485,000 $301,000 The following
Camell Company had the following excerpt from its financial records: 12/31/2021 12/31/2020 Equipment $840,000 $786,000 Accumulated Depreciation Book Value 528,000 $312,000 485,000 $301,000 The following information is taken from Campbell Company's records: 1. Depreciation expense for 2021 and 2020 was $87,000 and $92,000, respectively. 2. A gain on sale of equipment of $14,000 was recorded during 2021. 3. Equipment was sold during 2021 for $47,000. Required: Compute the amount of cash used to purchase the equipment during 2021. Cash used to purchase the equipment: X $
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