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A computer was sold for $5,000 after it had been used for 3 years. Originally the computer was purchased at $10,000, with a 5-year useful

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A computer was sold for $5,000 after it had been used for 3 years. Originally the computer was purchased at $10,000, with a 5-year useful life and $1,000 salvage value. Assume the computer is depreciated under straight line method,which of the following statements correctly describes the computer sale? Assets and stockholders' equity both decrease by $400. Assets and stockholders' equity both increase by $5,000. Assets and stockholders' equity both increase by $400. O Assets decrease $5,000 and stockholders' equity is not affected

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