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Equipment to be sold has a book value of $4,000. The cost of the equipment...

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Question

Accounting

Equipment to be sold has a book value of $4,000. The cost of the equipment is $10,000. The cash received at sale is $2,000. What is the gain or loss on disposal of the equipment?

A.

loss on disposal of $6,000

B.

loss on disposal of $2,000

C.

gain on disposal of $2,000

D.

loss on disposal of $4,000

Answer & Explanation Solved by verified expert
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