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On January 1, 2012, Bonita Industries purchased for $684000, equipment having a useful life of ten years and an estimated salvage value of $40800.
On January 1, 2012, Bonita Industries purchased for $684000, equipment having a useful life of ten years and an estimated salvage value of $40800. Bonita has recorded monthly depreciation of the equipment on the straight-line method. On December 31, 2020, the equipment was sold for $115000. As a result of this sale, Bonita should recognize a gain of $50680. O $115000. $0. $9880.
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College Accounting
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
11th edition
978-1111528300, 1111528128, 1111528306, 978-1111528126
