Question: ABC, Inc. has an extractor (equipment) that originally cost $ 1,000 and has a useful life of 10 years. It has been fully depreciated and

ABC, Inc. has an extractor (equipment) that originally cost $ 1,000 and has a useful life of 10 years. It has been fully depreciated and will be scrapped. The entries to remove it from the books are: Multiple Choice It is not necessary to make an entry because its book value is $ 0. Accumulated depreciation  .1,000 Equipment ...  ....  1,000 Accumulated depreciation .1,000 Loss in disposal of equipment. 1,000 Loss in disposal of equipment ... 1,000 Accumulated depreciation  .............. .1,000

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