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During the year, the Equipment account increased by $60,000 and the Accumulated Depreciation account increased...

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Accounting

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During the year, the Equipment account increased by $60,000 and the Accumulated Depreciation account increased by $7,000. In addition, the company sold equipment that originally cost $25,000 and had $19,000 of occumulated depreciation for $12,000. What was the cash outflow to purchase equipment? Muniple Choice 572,000 560000 $85,000 $35,000

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