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A business sold equipment for $8,000 in cash proceeds which had an original cost of...

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Accounting

A business sold equipment for $8,000 in cash proceeds which had an original cost of $50,000 and accumulated depreciation at the date of sale of $40,000. Which of the statements below is true? Multiple Choice A loss was not reported in the income statement but a cash inflow of $8,000 was reported in the cash flow statement. A loss was not reported in the income statement but a cash inflow of $10,000 was reported in the cash flow statement. A loss of $8,000 was reported in the income statement and a cash inflow of $13,000 was reported in the cash flow statement. A loss of $2,000 was reported in the income statement and a cash inflow of $8,000 was reported in the cash flow statement

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