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1. A company owns a machine that has a recorded cost of $800,000 and accumulated depreciation of $500,000 at the time the company sells the

1. A company owns a machine that has a recorded cost of $800,000 and accumulated depreciation of $500,000 at the time the company sells the machine for $200,000 cash. What is the gain or loss on the sale?
2. On January 21st a company buys back 10,000 shares of its common stock for 15$ per share. The shares will be held as treasury stock. What is the entry to record the buy back?

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