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What was the effect of the transaction on working capital

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Office equipment with a cost of P10 000 and accumulated depreciation of P9 500 was sold for P1 000 cash.

Problem a. What was the gain or loss on the sale?

Problem b. What was the effect of the transaction on working capital?

Problem c. How would the transaction be reported in the cash flow statement?

Reference no: EM132944778

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