During the year, the Equipment account increased by $40,000 and the Accumulated Depreciation account increased...
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Accounting
During the year, the Equipment account increased by $40,000 and the Accumulated Depreciation account increased by $3,000. In addition, the company sold equipment that originally cost $23,000 and had $17.000 of accumulated depreciation for $8.000. What was the cash outflow to purchase equipment
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