Problemblanket corporation sold equipment for cash of 39000, Ask an Expert

Accounting

Problem:

Blanket Corporation sold equipment for cash of $39,000. Accumulated depreciation on the sale date amounted to $32,500 and a loss of $1,770 was recognized on the sale.

Required:

What was the original cost of the asset.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91165863

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