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Question
on july 1, 2012, dillman kennels sells equipment for $44,000. the equipment originally cost $120,000, had an estimated 5-year life and an expected salvage value of $20,000. the accumulated depreciation account had a balance of $70,000 on january 1, 2012, using the straight-line method. the gain or loss on disposal is
a.$6,000 gain
b.$4,000 loss
c.$6,000 loss
d.$4,000 gain
Answer
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