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The following information is for X Company for the year: Equipment, January 1 $14,000 Equipment, December 31 10,000 Cost of equipment sold 7,000 Depreciation expense
The following information is for X Company for the year:
| Equipment, January 1 | $14,000 | |
| Equipment, December 31 | 10,000 | |
| Cost of equipment sold | 7,000 | |
| Depreciation expense | 2,000 | |
How much equipment was purchased during the year?
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Financial Accounting
Authors: Walter B. Meigs, Robert F. Meigs, Mark Bettner, Ray Whittington
9th Edition
0070434360, 978-0070434363
