Sonesta Company sold equipment for cash.The income statement shows a loss on sale of $9000.The net book value of the asset prior to the sale was $25,900.Which of the following statements describes the cash effect of the transaction?
A) positive cash flow of $16,900 from investing activities
B) positive cash flow of $34,900 from financing activities
C) negative cash flow of $16,900 for financing activities
D) negative cash flow of $16,900 for operating activities
Correct Answer:
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