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Equipment was purchased at a cost of $134,000. The equipment had an estimated useful life of 5 years and a residual value of $14,000. Assume
Equipment was purchased at a cost of $134,000. The equipment had an estimated useful life of 5 years and a residual value of $14,000. Assume the equipment was sold at the end of Year 4 (with accumulated depreciation of $96,000) for $19,000. This generates a $19,000 loss. Which of the following will be included in the journal entry?
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