1. Sarahs company had a machine destroyed by fire. The machine originally cost $105,000. The...
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Accounting
1. Sarahs company had a machine destroyed by fire. The machine originally cost $105,000. The accumulated depreciation on it was $45,000. The proceeds from the insurance company were $30,000. The company should recognize: A. A loss of $25,000 B. A gain of $25,000 C. no gain or loss. D. A loss of $30,000 E. A gain of $30,000
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