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Equipment costing $125,000 was sold for a $20,000 gain. Accumulated depreciation on the equipment through the date of sale was $75,000. What is the amount

Equipment costing $125,000 was sold for a $20,000 gain. Accumulated depreciation on the equipment through the date of sale was $75,000. What is the amount of cash received from the sale of equipment? Select one: a. $145,000. b. $20,000. c. $70,000. d. $75,000image text in transcribed

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