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Le Company has the following information: Equipment was purchased for $78,000 on July 1, 2024. The equipment's estimated useful life was 6 years, and its
Le Company has the following information:
Equipment was purchased for $78,000 on July 1, 2024. The equipment's estimated useful life was 6 years, and its residual value was $6,000. The straight-line method of depreciation was used and the company uses the calendar year.
On 1/1/2026, Le sold the equipment at a gain of $2,000.
The proceed received from the sales of the equipment is?
The Accumulated Depreciation of the equipment as of 1/1/2026?
The Net Book value of the equipment as of 1/1/2026?
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