The Maria Brown Estate sold a painting that had been hanging in Maria's home until...
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Accounting
The Maria Brown Estate sold a painting that had been hanging in Maria's home until her death. Maria purchased the painting years ago for $600. The executor of her estate paid $200 to have the painting appraised and sold it on month after her death for $5000. The estate will report __________ on its Form 1041.
A. A loss of $200.
B. Neither gain nor loss.
* These are the two answers available. Please choose one of them!
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