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Bugs Moran Company sells a truck which originally cost $32,000. Accumulated depreciation at the time of the sale was $27,000. The estimated residual value of

Bugs Moran Company sells a truck which originally cost $32,000. Accumulated depreciation at the time of the sale was $27,000. The estimated residual value of the truck when it was purchased was $2,000. Assuming the truck was sold for $8,000 cash, Bugs Moran Company would report the following on its income statement with regards to the sale

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