Calculate the proceeds received on the sale of property

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Problem - Making Ends Meat is a butcher with capital assets. The capital assets have a net book value/carrying amount of $216,053 at the beginning of the year and $350,328 at year-end. Making Ends Meat acquired $207,822 of capital assets during the year. Making Ends Meat's income statement shows depreciation expense of $18,571 and a $7,251 loss on the sale of property, plant, and equipment. Calculate the proceeds received on the sale of property, plant, and equipment during the year. Do not round intermediary answers.

Reference no: EM133017782

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