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Prancer Company purchased machinery for $124,800 on January 1, 2017. Straight-line depreciation has been recorded based on a $7,800 salvage value and a 5-year useful
Prancer Company purchased machinery for $124,800 on January 1, 2017. Straight-line depreciation has been recorded based on a $7,800 salvage value and a 5-year useful life. The machinery was sold on May 1,2021 at a gain of \$2,340. How much cash did Peterson receive from the sale of the machinery? $25,740$21,060$33,540$17,940
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