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A company sold equipment that originally cost $260,000 for $120,000 cash. The accumulated depreciation on the equipment was $140,000. The company should recognize a: $70,000
A company sold equipment that originally cost $260,000 for $120,000 cash. The accumulated depreciation on the equipment was $140,000. The company should recognize a:
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$70,000 loss.
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$120,000 gain.
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$140,000 loss.
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$0 gain or loss.
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$70,000 gain.
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