Answer:
Cash Anders received from the sales of equipment was $37,000
Explanation:
The equipment with a book value of $40,000 and an original cost of $210,000 was sold at a loss of $3,000
In Anders Company
The carrying amount of the equipment = book value of equipment = $40,000
The equipment was sold at a loss of $3,000. Therefore:
The carrying amount of the equipment - Sales price (Cash Anders received from the sales) = $3,000
Cash Anders received from the sales = The carrying amount of the equipment - $3,000 = $40,000 - $3,000 = $37,000
