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  3. a copy machine was purchased for $35,000 and had a

A copy machine was purchased for $35,000 and had accumulated depreciation of $24,000. The machine...

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Accounting

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A copy machine was purchased for $35,000 and had accumulated depreciation of $24,000. The machine was traded in for a new one that had a sticker price of $50,000. The vendor agreed to give a trade in allowance for the old equipment in the amount of $9,000, How much will the company need to pay in cash, and what is the amount of the gain or loss? O $41,000, gain of $2,000 On $41,000, loss of $2,000 O $50,000, no loss or gain Od $50,000, loss of $2,000

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