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16. Affordable Rugs is selling a used weaving machine for $8,000. The weaving machine was originally purchased for $12,000 and the accumulated depreciation on the
16. Affordable Rugs is selling a used weaving machine for $8,000. The weaving machine was originally purchased for $12,000 and the accumulated depreciation on the machine is $6,000. How would Affordable Rugs report the sale on the income statement?
Group of answer choices
A. As a Loss on Asset Sale (Other Expense) of $4,000
B. As a Gain on Asset Sale (Other Revenue) of $2,000
C. As a Gain on Asset Sale (Other Revenue) of $4,000
D. As a Loss on Asset Sale (Other Expense) of $2,000
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