Jeffreys Company reports depreciation expense of $53,000 for Year 2. Also, equipment costing $179,000 was...
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Jeffreys Company reports depreciation expense of $53,000 for Year 2. Also, equipment costing $179,000 was sold for a $11,300 loss in Year 2. The following selected information is available for Jeffreys Company from its comparative balance sheet. Compute the cash received from the sale of the equipment At December 31 Equipment Accumulated Depreciation-Equipment Year 2 Year 1 $675,000 $854,000 480,000 565,000 Multiple Choice O $41,000. 0 $52,300. $29,700
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