Consider the following facts for Tea Time: a. Beginning and ending Retained Earnings are $48,000...
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Accounting
Consider the following facts for Tea Time: a. Beginning and ending Retained Earnings are $48,000 and $69,000, respectively. Net income for the period is $59,000 b. Beginning and onding Plant Assets are $123,700 and $130,700, respectively c. Beginning and ending Accumulated Depreciation-Plant Assets are $19,700 and $22,700, respectively. d. Depreciation Expense for the period is $14,000 and acquisitions of new plant assets total $28,000. Plant assets were sold at a $4,000 gain. Requirements 1. What was the amount of the cash receipt from the sale of plant assets? Requirement 1. What was the amount of the cash receipt from the sale of plant assets? The cash receipt from the sale plant assets is Enter your answer in the answer box and then click Check
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