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Horizon Co. owns equipment that cost $138,750, with accumulated depreciation of $81,000. Horizon sells the equipment for cash. Record the sale of the equipment assuming
Horizon Co. owns equipment that cost $138,750, with accumulated depreciation of $81,000. Horizon sells the equipment for cash. Record the sale of the equipment assuming Horizon sells the equipment for
(1) $63,000 cash
(2) $57,750 cash
(3) $46,500 cash.
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