A computer was sold on April 1, 20-2, for $575. Its cost was $3,000, and accumulated depreciation
Question:
A computer was sold on April 1, 20-2, for $575. Its cost was $3,000, and accumulated depreciation as of December 31, 20-1, was $2,100 ($700 a year).
(a) There was a gain of $150.
(c) There was a gain of $325.
(b) There was a loss of $150.
(d) There was a loss of $325.
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