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Required information [The following information applies to the questions displayed below.] The following accounts and corresponding balances were drawn from Delsey Company's Year 2 and
Required information [The following information applies to the questions displayed below.] The following accounts and corresponding balances were drawn from Delsey Company's Year 2 and Year 1 year-end balance sheets. Other information drawn from the accounting records: 1. Delsey incurred a $6,000 loss on the sale of investment securities during Year 2 . 2. Old machinery with a book value of $8,000 (cost of $36,000 minus accumulated depreciation of $28,000 ) was sold. The income statement showed a gain on the sale of machinery of $4,500. 3. Delsey did not sell land during the year. . Compute the amount of cash flow associated with the purchase of land
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