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On Dec 31, 2019, XYZ Company sells a machine that originally cost $150,000 for $90,000 cash. The machine was placed in service on January 1,
On Dec 31, 2019, XYZ Company sells a machine that originally cost $150,000 for $90,000 cash. The machine was placed in service on January 1, 2015.
It was depreciated using the straight-line method with an estimated salvage value of $25,000 and a useful life of 10 years.
Determine the profit or loss made on disposal of the machine and pass Journal Entry.
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The ASQ Certified Food Safety And Quality Auditor
Authors: Steven Wilson
4th Edition
1951058186, 978-1951058180
