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A truck with a cost of 54,000 an estimated life of eight years with a salvage value of 20,000 has a straight line depreciation method
A truck with a cost of 54,000 an estimated life of eight years with a salvage value of 20,000 has a straight line depreciation method was purchased in yr 1. if this truck was sold in year three for $47,000 what is the gain or loss on disposal
The answer choices are either a $10,625 loss is $7000 loss or a $3625 gain
please explain
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Financial Reporting Financial Statement Analysis And Valuation A Strategic Perspective
Authors: Clyde P. Stickney, Paul Brown, James M. Wahlen
6th Edition
0324302959, 9780324302950
