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A piece of equipment with a 5 year useful life and a $10,000 salvage value was purchased for $100,000. To date, $45,000 of depreciation
A piece of equipment with a 5 year useful life and a $10,000 salvage value was purchased for $100,000. To date, $45,000 of depreciation has been recorded. The equipment is to be sold for $73,000. What is the amount of gain or loss on the sale? Enter a positive number for a gain; a negative number for a loss.
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Survey of Accounting
Authors: Carl S Warren
5th Edition
9780538489737, 538749091, 538489731, 978-0538749091
