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ABC catering service purchased equipment on January 1, 2016 for $31,500 suppose ABC catering sold equipment for $22000 on December 31, 2017 Accumulated depreciation as
ABC catering service purchased equipment on January 1, 2016 for $31,500 suppose ABC catering sold equipment for $22000 on December 31, 2017 Accumulated depreciation as of December 31, 2017 was $14000
Journalize the sale of the equipment, assuming straight-line depreciation was used.
First, calculate any gain or loss on the disposal of the equipment.
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