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An enterprise fund buys equipment for $3,000,000. The equipment has a 5-year estimated life, straight-line, no residual value. The equipment is sold after 3 years

An enterprise fund buys equipment for $3,000,000. The equipment has a 5-year estimated life, straight-line, no residual value. The equipment is sold after 3 years for $300,000.

What statement is true regarding the reporting for the sale in the enterprise fund operating statement?

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