The Demlo Company sold equipment for cash.The income statement shows a loss on sale of $5,000.The net book value of the asset prior to sale was $24,000.Which of the following statements describes the cash effect of the transaction?
A) positive cash flow of $29,000 in investing activities
B) negative cash flow of $19,000 in operating activities
C) positive cash flow of $19,000 in investing activities
D) negative cash flow of $14,000 in financing activities
Correct Answer:
Verified
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