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Gonzales, Inc. sold equipment and received $23,520 cash for the equipment. The company reported a loss on the sale of $14,112. This transaction will: a)
Gonzales, Inc. sold equipment and received $23,520 cash for the equipment. The company reported a loss on the sale of $14,112. This transaction will: a) Result in $23,520 shown as a positive number in the investing section of Gonzales' cash flow statement. b) Result in $14,112 as a deduction (i.e. a negative number) in the operating section of Gonzales' cash flow statement. c) Result in $23,520 shown as a negative number in the investing section of Gonzales' cash flow statement. d) Result in $9,408 shown as a positive number in the investing section of Gonzales' cash flow statement. e) None of these statements is correct
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