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Accounting Straight Line Method Question Multiple Choice Question 124 Your answer is incorrect. Try again. On May 1, 2017, Swifty Company sells office furniture for

Accounting Straight Line Method Question

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Multiple Choice Question 124 Your answer is incorrect. Try again. On May 1, 2017, Swifty Company sells office furniture for $289200 cash. The office furniture originally cost $760000 when purchased on January 1, 2010. Depreciation is recorded by the straight-line method over 10 years with a salvage value of $81400. What gain should be recognized on the sale? $26840 $29340 $53680. O $22620

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