A company sold a machine that originally cost $250,000 for $120,000 when accumulated depreciation on the machine

Question:

A company sold a machine that originally cost $250,000 for $120,000 when accumulated depreciation on the machine was $100,000. The gain dr loss recorded on the sale of this machine is

a. $0 gain or loss.

b. $ 120,000 gain.

c. $30,000 loss.

d. $30,000 gain.

e. $150,000 loss.

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