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McLean Mfg. Company sold a three-speed lathe for $24,000 cash. The lathe cost $66,200 and had a book value of $23,200. Required: Prepare the journal

McLean Mfg. Company sold a three-speed lathe for $24,000 cash. The lathe cost $66,200 and had a book value of $23,200. Required: Prepare the journal entry to record the sale.

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