Equipment with a carrying amount of $8,000 is sold for $1,000 cash. The statement of cash flows will report a:
A) $7,000 cash outflow in the financing activities section
B) $7,000 cash outflow in the operating activities section
C) $1,000 cash inflow in the investing activities section
D) $1,000 cash inflow in the operating activities section
Correct Answer:
Verified
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