Hailey Beach Resort Reports Beginning Property,plant,and Equipment,net of Amortization,of $645,000
Hailey Beach Resort reports beginning property,plant,and equipment,net of amortization,of $645,000 and an ending amount of $732,500.The income statement shows amortization of $48,300 and a $5,600 loss on sale of property,plant,and equipment.Patton Park acquired $213,000 of property,plant,and equipment during the year.The cash received from the sale of property,plant,and equipment is:
A) $125,500
B) $71,600
C) $82,800
D) $77,200
Correct Answer:
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