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A machine with a cost of $143,000 and accumulated depreciation of $98,000 is sold for...

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Accounting

A machine with a cost of $143,000 and accumulated depreciation of $98,000 is sold for $56,500 cash. The amount that should be reported as a source of cash under cash flows from investing activities is:

Multiple Choice

  • Zero. This is an operating activity.

  • Zero. This is a financing activity.

  • $11,500.

  • $45,000.

  • $56,500.

Answer & Explanation Solved by verified expert
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