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A company had a tractor destroyed by fire. The tractor originally cost $135,000 with accumulated depreciation of $69,000. The proceeds from the insurance company were

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A company had a tractor destroyed by fire. The tractor originally cost $135,000 with accumulated depreciation of $69,000. The proceeds from the insurance company were $30,000. The company should recognize: Multiple Choice A gain of $66,000 A loss of $66,000 A loss of $36,000 A gain of $36,000 A gain of $30,000

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