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ABC Sold equipment During 2019, ABC Co. sold equipment that had cost $485,000 for $158,500 (cash received). This resulted in a loss of $34,800. The
ABC Sold equipment
During 2019, ABC Co. sold equipment that had cost $485,000 for $158,500 (cash received). This resulted in a loss of $34,800. The balance in Accumulated Depreciation-Equipment was $1,380,000 on January 1, 2019, and $1,430,000 on December 31, 2019. No other equipment was disposed of during 2019. Depreciation expense for 2019 was a. $241,700 b.$411,300 C. $311,300 d. $291,700 e. $341,700Step by Step Solution
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