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The following accounts and corresponding balances were drawn from Delsey Company's Year 2 and Year 1 year-end balance sheets: Account Title Investment securities Machinery
The following accounts and corresponding balances were drawn from Delsey Company's Year 2 and Year 1 year-end balance sheets: Account Title Investment securities Machinery Land Year 2 $ 102,300 525,800 142,200 Year 1 $ 117,900 425,300 94,400 Other information drawn from the accounting records: 1. Delsey incurred a $1,130 loss on the sale of investment securities during Year 2. 2. Old machinery with a book value of $4,640 (cost of $25,540 minus accumulated depreciation of $20,900) was sold. The income statement showed a gain on the sale of machinery of $4,300. 3. Delsey did not sell land during the year. Exercise 12-10A (Algo) Part a Required a. Compute the amount of cash flow associated with the sale of investment securities. Amount of cash flow
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