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During the period, Teen's Trends sold some excess equipment at a loss. The following information was collected from the company's accounting records: $ 505 4,010
During the period, Teen's Trends sold some excess equipment at a loss. The following information was collected from the company's accounting records: $ 505 4,010 From the income statement Depreciation expense Loss sale of equipment From the balance sheet Beginning equipment Ending equipment Beginning accumulated depreciation Ending accumulated depreciation 12,600 6,550 2,100 2,250 No new equipment was bought during the period. Required: For the equipment that was sold, determine (a) its original cost, sale. its accumulated depreciation, and (c) the cash received from the (a) Cost of equipment sold (b) Accumulated Depreciation-Equipment (c) Cash Received from Sale
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