20

On December 31 , Strike Company sold one of its batting cages for $23,550. The equipment had an initial cost of $261,668 and had accumulated depreciation of $235,501. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction? a. Gain of $2,617 b. Gain of $238,118 c. Loss of $2,617 d. Loss of $211,951