What would be the effect on each line on the balance sheet

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Problem 1: What would be the effect on each line on the balance sheet, income statement and cash flow statement for fiscal 2019? Ignore taxes.

On January 1, 2019, Sleep Well sells a used production machine for $50 in cash. The machine originally cost $120 when purchased in 2016 and was two-thirds of the way through its useful life.

Reference no: EM132697606

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