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In 2014, Maxi Office Supplies sold a plant asset that had an original cost of $54,000 and accumulated depreciation of $28,000 for $15,000 in cash.
In 2014, Maxi Office Supplies sold a plant asset that had an original cost of $54,000 and accumulated depreciation of $28,000 for $15,000 in cash. Which one of the following is one item to be reported on the statement of cash flows prepared using the indirect method?
A | An addition to net income in the operating activities section for $11,000 | |
B | A subtraction from net income in the operating activities section for $11,000 | |
C | A source of cash of $15,000 in the financing activities section | |
D | A use of cash in the investing activities section for $26,000 |
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