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What amount was reported on the statement of cash flows

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Reference no: EM132620007

Question - The T-accounts for Equipment and the related Accumulated Depreciation-Equipment for Luo Company at the end of 2020 are shown here.

Equipment

Beg. bal. 84,500

Disposals 20,700

Acquisitions 39,500

End. bal. 103,300

Accumulated Depreciation-Equipment

Disposals 9,000

Beg. bal. 43,800

Depr. exp. 13,900

End. bal. 48,700

In addition, Luo's income statement reported a loss on the disposal of plant assets of $6,100. What amount was reported on the statement of cash flows as "cash flow from sale of equipment"?

Reference no: EM132620007

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