Beginning and ending plant assets are, respectively, $325,000 and $370,000. Beginning and ending accumulated depreciation...
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Accounting
Beginning and ending plant assets are, respectively, $325,000 and $370,000. Beginning and ending accumulated depreciation is, respectively, $82,800 and $95,000. Depreciation expense for the period was $30,000, and new assets of $76,000 were purchased. Plant assets were sold at a $10,500 loss. What were the cash proceeds from the sale
Correct answer $2,700. Please explain how to get this number, step by step.
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