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Use the following information for a Company to answer questions 8 and 9. Equipment, December 31, 2014$65,000 Equipment, December 31, 201572,000 Accumulated Depreciation, December 31,

Use the following information for a Company to answer questions 8 and 9.

Equipment, December 31, 2014$65,000

Equipment, December 31, 201572,000

Accumulated Depreciation, December 31, 201439,000

Accumulated Depreciation, December 31, 201530,000

During 2015, the company sold equipment with a cost of $30,000 and accumulated depreciation of $25,000.A gain of $3,000 was recognized on the sale of the equipment.

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