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Dillman Kennels purchased equipment on January 1, 2014 for 300,000. The equipment has an estimated 5 year life and an expected salvage value of 50,000.

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Dillman Kennels purchased equipment on January 1, 2014 for 300,000. The equipment has an estimated 5 year life and an expected salvage value of 50,000. The company uses the straight line method of depreciation. On July 1, 2017, Dillman Kennels sells equipment for $110,000. Record the disposal of the asset

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