Question: On July 1 , 2 0 2 5 , Cullumber Kennels sells equipment for $ 1 1 8 0 0 0 . The equipment originally

On July 1,2025, Cullumber Kennels sells equipment for $118000. The equipment originally cost $350000, had an estimated 5-year life and an expected salvage value of $50000. The Accumulated Depreciation account had a balance of $210000 on January 1,2025 using the straight-line method. The gain or loss on disposal is
$22000 loss.
$8000 loss.
$8000 gain.
$22000 gain.
On July 1 , 2 0 2 5 , Cullumber Kennels sells

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