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ebring Company reports depreciation expense of $48,000 for Year 2. Also, equipment costing $164,000 was sold for a $5,800 gain in Year 2. The following
ebring Company reports depreciation expense of $48,000 for Year 2. Also, equipment costing $164,000 was sold for a $5,800 gain in Year 2. The following selected information is available for Sebring Company from its comparative balance sheet. Compute the cash received from the sale of the equipment. |
At December 31 | Year 2 | Year 1 |
Equipment | $ 650,000 | $ 814,000 |
Accumulated Depreciation-Equipment | 460,000 | 540,000 |
$48,000.
$41,800.
$30,200.
$84,000.
$36,000.
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