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On January 2, 2022, Flint Corporation sold equipment for $56000 cash. The equipment had an original cost of $180000 and accumulated depreciation of $105000. Use

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On January 2, 2022, Flint Corporation sold equipment for $56000 cash. The equipment had an original cost of $180000 and accumulated depreciation of $105000. Use the following tabular analysis to record the sale. Assets Liabilities Stockholders' Equity Common Retained Earnings Stock + Rev. Exp. Div. Accumulated Depreciation 105000 Cash + Equipment 180000 Jan 2 bal. Increase Cash and decrease Equipment $56000. Increase Cash $56000, increase expenses (loss) $19000, decrease Equipment $180000 and decrease Accumulated Depreciation $105000 Increase Cash $56000, decrease Equipment $180000, decrease Accumulated Depreciation $105000 and increase Revenues $19000 Increase Cash $56000, decrease Equipment $75000 and decrease Revenues $19000

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