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On December 31, Strike Company has decided to sell one of its batting cages. The...

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Accounting

On December 31, Strike Company has decided to sell one of its batting cages. The initial cost of the equipment was $235,583.00 with an accumulated depreciation of $223,803.85. Depreciation has been taken up to the end of the year. The company found a company that is willing to buy the equipment for $27,092.05. What is the amount of the gain or loss on this transaction?

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