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What is the gain or loss on sale of a fixed asset if a piece of equipment with a book value of $12,000 is sold

What is the gain or loss on sale of a fixed asset if a piece of equipment with a book value of $12,000 is sold for $11,500?

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loss on disposal of fixed asset of $11,500

loss on disposal of fixed asset of $500

gain on disposal of fixed asset of $11,500

gain on disposal of fixed asset of $500

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