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Equipment with an original cost of $71,461 and accumulated depreciation of $31,327 was sold at...

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Question

Accounting

Equipment with an original cost of $71,461 and accumulated depreciation of $31,327 was sold at a loss of $5,235. Find the change in cash as a result of this transaction.

Select the correct answer.

increase by $34,899

decrease by $5,235

increase by $71,461

decrease by $31,327

Answer & Explanation Solved by verified expert
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