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Blanket Corporation sold equipment for cash of $38,000. Accumulated depreciation on the sale date amounted...

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Accounting

Blanket Corporation sold equipment for cash of $38,000. Accumulated depreciation on the sale date amounted to $31,500 and a loss of $1,750 was recognized on the sale. What was the original cost of the asset?

$69,500

$4,750

$71,250

$39,750

$67,750

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