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Riodan Company sold old equipment for $25,000. The equipment had a cost of $50,000 and...

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Accounting

Riodan Company sold old equipment for $25,000. The equipment had a cost of $50,000 and accumulated depreciation of $30,000. The entry to record the sale of the equipment would include

loss on disposal of $25,000.

gain on disposal of $25,000.

loss on disposal of $5,000.

gain on disposal of $5,000.

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