Equipment that cost $158000 and on which $130000 of accumulated depreciation has been recorded was disposed of
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Question:
Equipment that cost $158000 and on which $130000 of accumulated depreciation has been recorded was disposed of for $38000 cash. The entry to record this event would include a
credit to Accumulated Depreciation for $130000.
gain of $10000.
loss of $10000.
credit to the Equipment account for $38000.
Expert Answer:
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