What was effect of this transaction on financial statements

Assignment Help Financial Accounting

Reference no: EM133496339

Question: The Gamble Company completed a sale of several Las Vegas buildings for proceeds of $6.6 billion, including $2 billion in cash and $4.6 billion of notes (a promise to pay later). The sale resulted in a gain of $1.5 billion. At the time of the sale, the Accumulated Depreciation on the buildings was $1 billion. What was the effect of this transaction on the financial statements?

Reference no: EM133496339

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