Blue Company sold equipment that cost $96,000 and had a book value of $45,000 for $76,000. This would result in a $31,000 credit in the reconciling column for the change in book value and a $76,000 debit for the cash received from the sale.

1. Blue Company sold equipment that cost $96000 and had a book value of $45000 for $76000. If
Blue uses a worksheet to help prepare its Statement of Cash Flows, what would be entered in the
bottom portion of the reconciling columns? $25000 credit and $76000 debit $31000 debit and
$96000 credit $31000 credit and $76000 debit $25000 credit and $96000 debit