Multiple Choice
Which of the following is correct when recording the disposal of equipment for a gain?
A) The company will record a debit to a gain account.
B) The company will record a credit to the equipment account for the asset's book value.
C) The company will record a debit to accumulated depreciation for the total depreciation accumulated to the date of disposal.
D) The company will record a credit to cash.
Correct Answer:
Verified
Correct Answer:
Verified
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