QUESTION 25 Equipment that cost $975,000 and had a book value of $390,000 was sold for $450,000. Data from the comparative balance sheets are: 12/31/21 12/31/20 Equipment $5,400,000 $4,875,000 Accumulated Depreciation 1,650,000 1,425,000 Equipment purchased during 2021 was $825,000 $915,000. $1,400,000 $1,500,000 $525,000. QUESTION 26 The following information was taken from the 2021 financial statements of Air Corporation: Bonds payable, January 1, 2021 $ 800,000 Bonds payable, December 31, 2021 4,800,000 During 2021: O A $800,000 payment was made to retire bonds as maturity. The bonds were originally issued at par. o Bonds payable with a face amount of $300,000 were issued in exchange for equipment. In its statement of cash flows for the year ended December 31, 2021, what amount should the company report as proceeds from issuance of bonds payable