Belvedere Corporation had a balance in its Equipment account on January 1, Year 1 of $331,400. During the year, equipment originally costing $88,200 and having Accumulated Depreciation of $21,700 was sold for $68,500. The ending balance of the Equipment Account was $286,400. How much did the company spend to purchase additional equipment during Year 1?
A. $88,200
B. $90,200
C. $21,700
D. $43,200
Answer: D
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