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Equipment that cost $103000 and on which $67000 of accumulated depreciation has been recorded was disposed of for $43500 cash. The entry to record this

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Equipment that cost $103000 and on which $67000 of accumulated depreciation has been recorded was disposed of for $43500 cash. The entry to record this event would include a O gain of $7500 O credit to the Equipment account for $38500. O credit to Accumulated Depreciation for $38500. O loss of $7500

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