Question
The following data came from the balance sheet of Han Company as of December 31, 20X2. Dec. 31, 20X2 Dec. 31, 20X1 Machine $3,500 $2,950
The following data came from the balance sheet of Han Company as of December 31, 20X2.
Dec. 31, 20X2 Dec. 31, 20X1
Machine $3,500 $2,950
Accumulated depreciation on machines 1,400 1,300
Cash 135 180
The following additional data were found in Han Companys financial statements for 20X2.
..... Sales................................................................................ $10,000
..... Cash dividends paid................................................................. 65
..... New machines purchases (for cash)................................... 1,000
..... Net income............................................................................ 300
..... Depreciation expense............................................................ 270
..... Gain on sale of old machines................................................ 210
How much cash did Han Company receive from the sale of old machines during the year?(Assume that all machine sales were cash transactions.)
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