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A company purchased a piece of equipment for $334720 on January 1, 20x8. The asset's residual value and useful life were estimated to be $14258
A company purchased a piece of equipment for $334720 on January 1, 20x8. The asset's residual value and useful life were estimated to be $14258 and 6 years, respectively. The company sold the equipment at the end of 20x10 for $128253. The company uses the straight line method to depreciate its assets. Which of the following would be included in the journal entry to record the disposal of the equipment: Select one: a. Credit Accumulated Depreciation $160231 b. Debit Accumulated Depreciation $174489 Debit Gain on Disposal $46236 d. Debit Loss on Disposal $46236
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