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Business, 15.04.2020 19:12 coxtinam16

An enterprise fund buys equipment for $4,000,000. The equipment has a 4-year estimated life, straight-line, no residual value. The equipment is sold after 3 years for $200,000. Which statement is true regarding the reporting for the sale in the enterprise fund's operating statement?

a. $800,000 loss is reported in the non-operating section.
b. $200,000 proceeds are reported as other financing sources.
c. $800,000 loss is reported as other financing uses.
d. $200,000 proceeds are reported in the revenues section.

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