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Question - The T-accounts for Equipment and the related Accumulated Depreciation-Equipment for Goldstone Company at the end of 2017 are shown here.
Equipment
Beg. bal. 80,000 Disposals 22,000
Acquisitions 41,600
End. bal. 99,600
Accum. Depr.-Equipment
Disposals 5,100 Beg. bal. 44,500
Depr. exp. 12,000
End. bal. 51,400
In addition, Goldstone Company's income statement reported a loss on the disposal of plant assets of $3,500. What amount was reported on the statement of cash flows as "cash flow from sale of equipment"?
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