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Recording the Sale of PPE Assets Gaver Company sold machinery that had originally cost $75,000 for $25,000 in cash. The machinery was three years old

Recording the Sale of PPE Assets Gaver Company sold machinery that had originally cost $75,000 for $25,000 in cash. The machinery was three years old and had been depreciated using the double-declining-balance method assuming a five-year useful life and a residual value of $5,000. Required a. Prepare a journal entry to record this sale. Round numbers to the nearest dollar

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