Lopez Corporation Sold Equipment That It Had Purchased for $300,000

Multiple Choice

Lopez Corporation sold equipment that it had purchased for $300,000 ($100,000 cash and a note for $200,000) four years ago.As of the date of sale, Lopez had claimed $187,500 in accumulated depreciation on this equipment and had made $50,000 in principal payments on the note.Lopez received $80,000 cash and a note for $100,000 in addition to the purchaser assuming Lopez's $150,000 note on the equipment.What is the amount realized by Lopez Corporation on this sale?

A) $80,000
B) $180,000
C) $300,000
D) $330,000