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Item 3: Equipment that cost $173,000 and on which $125,000 of accumulated depreciation has been recorded was disposed of for $50,000 cash. Make the entry

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Item 3: Equipment that cost $173,000 and on which $125,000 of accumulated depreciation has been recorded was disposed of for $50,000 cash. Make the entry to record this transaction. Hint: Compute BV and then gain (loss)

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