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Congo Company had the following information for 2020 and 2019: 12/31/2020 12/31/2019 Equipment $72,000 $65,000 Accumulated Depreciation 30,000 39,000 During 2020, Congo sold equipment with

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Congo Company had the following information for 2020 and 2019: 12/31/2020 12/31/2019 Equipment $72,000 $65,000 Accumulated Depreciation 30,000 39,000 During 2020, Congo sold equipment with a cost of $22,000 and accumulated depreciation of $20,000. A gain of $1,000 was recognized on the sale of the equipment. How much was paid for the purchase of equipment during 2020? a. $15,000 b. $20,000 O c. $27.000 d. $29.000 O e. 57.000

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