Granite Stone Creamery sold ice cream equipment for $12,000. Granite Stone originally purchased the equipment for $80,000,

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Granite Stone Creamery sold ice cream equipment for $12,000. Granite Stone originally purchased the equipment for $80,000, and depreciation through the date of sale totaled $66,000. What was the gain or loss on the sale of the equipment?
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Related Book For  answer-question

Financial Accounting

ISBN: 9780078110825

2nd Edition

Authors: J. David Spiceland, Wayne Thomas, Don Herrmann

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