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On January 1, 2018, Dunbar Echo Co. sells a machine for $24,400. The machine was originally purchased on January 1, 2016 for $43,200. The machine

On January 1, 2018, Dunbar Echo Co. sells a machine for $24,400. The machine was originally purchased on January 1, 2016 for $43,200. The machine was estimated to have a useful life of 5 years and a residual value of $0. Dunbar Echo uses straight-line depreciation. In recording this transaction:

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