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Green Company reports depreciation expense of $53,000 for Year 2. Also, equipment costing $179,000 was sold for a $6,300 gain in Year 2. The following selected information is available for Green Company from its comparative balance sheet.
At December 31 Year 2 Year 1
Equipment $ 675,000 $ 854,000
Accumulated Depreciation-Equipment 480,000 565,000
Required:
1. Compute the cash received from the sale of the equipment.
Answers: 3
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Green Company reports depreciation expense of $53,000 for Year 2. Also, equipment costing $179,000 w...
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