Mo Bounce Company's delivery truck, which originally cost $28,000, was destroyed by fire. At the time of
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Mo Bounce Company's delivery truck, which originally cost $28,000, was destroyed by fire. At the time of the fire, the balance of the accumulated depreciation account amounted to $19,000. The company received $16,000 reimbursement from its insurance company. The gain or loss as a result of the fire was
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