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Jamison Company reports depreciation expense of $60,000 for Year 2. Also, equipment costing $200,000 was sold for a $7,000 gain in Year 2. The following

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Jamison Company reports depreciation expense of $60,000 for Year 2. Also, equipment costing $200,000 was sold for a $7,000 gain in Year 2. The following selected information is available for Jamison Company from its comparative balance sheet. Compute the cash received from the sale of the equipment. $55,000. $48,000. $41,000 $60,000 $108,000

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