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The following information is taken from the balance sheet of Cheese Wheel Company: Depreciation expense of $15,000 was reported on the 2012 income statement. Equipment

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The following information is taken from the balance sheet of Cheese Wheel Company: Depreciation expense of $15,000 was reported on the 2012 income statement. Equipment with an original cost of $35,000 was sold for its book value. Compute the amount of cash received from the sale of the equipment

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