Accounts Payable had a normal beginning balance of $500.$500.$ During the period, the company made purchases on account of $1,000$1,000$ and paid cash on account of $400.$400.$ What was the ending balance?What is the gain or loss on the sale of an asset that originally cost $20,000,$20,000,$ has accumulated depreciation of $10,000,$10,000,$ and is sold for $12,000?$12,000?$

Group of answer choices

$2,000$2,000$ gain

$10,000$10,000$ loss

$3,000$3,000$ gain

$12,000$12,000$ gain

Answer rating: 100% (QA)

The question seems to be a bit jumbled up but Ill decipher it into two parts and explain each separa... View the full answer