Brief Exercise 17-7
The T-accounts for Equipment and the related Accumulated Depreciation-Equipment for Luo Company at the end of 2014 are shown here.
Equipment
Beg. bal.
Acquisitions
End. bal.
Disposals
77,560 Disposals
24,540
37,130
90,150
Accumulated Depreciation-Equipment
5,790 Beg. bal.
41,020
Depr. exp.
10,080
End. bal.
45,310
In addition, Luo Company's income statement reported a loss on the disposal of equipment of $5,470. What amount was reported on the statement of cash
flows as \"cash flow from sale of equipment\"?
Cash flow from sale of equipment
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