On January 1, 2023, the accounting records of XYZ Inc. show the following about a...
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Accounting
On January 1, 2023, the accounting records of XYZ Inc. show the following about a machine: Purchase date: 1/1/2020 for $35,000 Accumulated depreciation at January 1, 2023: $26,400 On July 1, 2023, the machine was sold for $7,000. Depreciation for the first six months of 2023 was $1,467. The gain or loss on disposal would be: Options from question 15:
loss of $1600
gain of $133
Loss of $133
gain of $1600
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