During the current year, Acme Company recognized $29,300 of…
During the current year, Acme Company recognized $29,300 of depreciation expense, acquired $126,500 of new equipment, and sold old equipment at a gain of $3,400. In addition, the balance of the Property, Plant and Equipment account increased by $4,700 and the balance of the Accumulated Depreciation account increased by $3,800. How much cash did Acme receive from the sale of the old equipment?