Peterson company purchased machinery for 480000 on january, Ask an Expert

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Peterson Company purchased machinery for $480,000 on January 1. 2009. Straight-line depreciation gas been recorded based on a $30,000 salvage value and a 5-year useful life. The machinery was sold on May 1, 2013 at a gain of $9,000. How much cash did Peterson receive from the sale of the machinery?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M952820

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