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Equipment, December 31,2021 $91,000 Equipment, December 31,2022 $100,800 Accumulated Depreciation, December...

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Accounting

Equipment, December 31,2021 $91,000
Equipment, December 31,2022 $100,800
Accumulated Depreciation, December 31,2021 $54,600
Accumulated Depreciation, December 31,2022 $42,000
During 2022, the company sold equipment with a cost of $42,000 and accumulated depreciation of $35,000. A gain of $4,200 was recognized on the sale of the equipment.
What amount would be reported as the cash proceeds from the sale of the equipment?
Select one:
a. $4,200
b. $8,400
c. $7,000
d. $2,800
e. $11,200

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