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The following account balances were drawn from the year-end balance sheets of Gordon Company. Account Title Year 2 Year 1 Office Furniture $78,000 $81,000 Accumulated
The following account balances were drawn from the year-end balance sheets of Gordon Company. |
Account Title | Year 2 | Year 1 | |
Office Furniture | $78,000 | $81,000 | |
Accumulated Depreciation | 39,000 | 37,000 | |
During Year 2 the Company purchased office furniture that cost $10,000. The Year 2 income statement shows depreciation expense of $6,000 and a loss on the sale of office furniture of $2,000. Based on this information alone, the amount of the cash inflow from sale of office furniture is
$4,000. |
$7,000. |
$9,000. |
$13,000. |
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