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Survey of Accounting (Accounting I)
8th Edition
ISBN: 9781305961883
Author: Carl Warren
Publisher: Cengage Learning
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![95 Question: Financial accounting
Equipment with an original cost of $50,000 and accumulated
depreciation of $20,000 was sold at a loss of $7,000. As a result
of this transaction, cash would:
A) increase by $23,000
B) decrease by $7,000
C) increase by $43,000
D) decrease by $30,000](https://content.bartleby.com/qna-images/question/9300f73b-bd1b-4f3d-a058-5cfde590631d/5b4007a8-cd32-4fab-b0f2-f2f4f464ac88/ald7ma8_thumbnail.jpeg)
Transcribed Image Text:95 Question: Financial accounting
Equipment with an original cost of $50,000 and accumulated
depreciation of $20,000 was sold at a loss of $7,000. As a result
of this transaction, cash would:
A) increase by $23,000
B) decrease by $7,000
C) increase by $43,000
D) decrease by $30,000
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- Survey of Accounting (Accounting I)AccountingISBN:9781305961883Author:Carl WarrenPublisher:Cengage Learning
![Text book image](https://www.bartleby.com/isbn_cover_images/9781305961883/9781305961883_smallCoverImage.gif)
Survey of Accounting (Accounting I)
Accounting
ISBN:9781305961883
Author:Carl Warren
Publisher:Cengage Learning