Xi Co Provides You with the Following Information About Its $\begin{array}{ll}\text { Opening balance of equipment }&\$300,000\\\text {Closing balance of equipment }&\$550,000\end{array}$

Multiple Choice

Xi Co provides you with the following information about its equipment account: $\begin{array}{ll}\text { Opening balance of equipment }&\$300,000\\\text {Closing balance of equipment }&\$550,000\end{array}$
If machinery that originally cost $100 000 was sold during the year, what was the value of new equipment purchased?

A) $250 000
B) $350 000
C) $550 000
D) $150 000