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How much cash did baker receive

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Reference no: EM133000032

During 20X1, Baker Corp. sold equipment for cash. The equipment had an original cost of $20,000 and a book value of $4,000. The equipment was sold at a loss of $3,000.

Problem 1: How much cash did Baker receive in 20X1 when they sold this equipment?

Select one:

a. $17,000

b. $3,000

c. $7,000

d. $1,000

e. $4,000

Reference no: EM133000032

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