Equipment was acquired at the beginning of the year at a cost of $215,000. The equipment was
Question:
a. What was the depreciation for the first year?
b. Assuming the equipment was sold at the end of the eighth year for $128,000, determine the gain or loss on the sale of the equipment.
c. Journalize the entry to record the sale.
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a 9750 215000 3950018 b 9000 loss 1...View the full answer
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