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Ledda Corporation sells manufacturing equipment for $50,000, and the historical cost of the equipment was $125,000 and accumulated depreciation through the date of sale was
Ledda Corporation sells manufacturing equipment for $50,000, and the historical
cost of the equipment was $125,000 and accumulated depreciation through the date of sale
was $67,500. Prepare the necessary journal entry for the sale AND explain whether the gain
or loss in the journal entry is really good or bad news.
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Accounting for Governmental and Nonprofit Entities
Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus
15th Edition
978-0256168723, 77388720, 256168725, 9780077388720, 978-007337960
