Sam’s Sandals sold a piece of equipment for $17,600.  The book value of the equipment was $17,000.  The original cost of the equipment was $25,000.  A gain on the sale of $600 was reported.  The amount of cash reported on the statement of cash flows was: Group of answer choices A)$600 net inflow. B)$17,600 net inflow. C)$7,400 net outflow. d)$8,000 net outflow. E)None of the above

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is