Multiple Choice
Lori Company sold an operational asset, a machine, for cash. It originally cost $20,000. The accumulated depreciation at the date of disposal was $15,000. A gain on the disposal of $2,000 was reported. What was the cash inflow from this transaction?
A) $4,000.
B) $3,000.
C) $5,000.
D) $7,000.
Correct Answer:
Verified
Correct Answer:
Verified
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