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Question - The T-accounts for Equipment and the related Accumulated Depreciation-Equipment for Metlock, Inc. at the end of 2017 are shown here.
Equipment
Beg. bal. 110,720
Disposals 30,448
Acquisitions 57,574
End. bal. 137,846
Accum. Depr. - Equipment
Disposals 7,058
Beg. bal. 61,588
Depr. exp. 16,608
End. bal. 71,138
In addition, Metlock, Inc.'s income statement reported a loss on the disposal of plant assets of $4,844. What amount was reported on the statement of cash flows as "cash flow from sale of equipment"?
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