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A company had a tractor destroyed by fire. The tractor originally cost $134,000 with accumulated depreciation of $68,100. The proceeds from the insurance company were

A company had a tractor destroyed by fire. The tractor originally cost $134,000 with accumulated depreciation of $68,100. The proceeds from the insurance company were $94,500. The company should recognize: A gain of $28,600. A gain of $65,900. A gain of $94,500. A loss of $65,900. A loss of $28,600.

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