Multiple Choice
Equipment that cost $144,000 and on which $120,000 of accumulated depreciation has been recorded was disposed of for $36,000 cash.The entry to record this event would include a
A) gain of $12,000.
B) loss of $12,000.
C) credit to the Equipment account for $36,000.
D) credit to Accumulated Depreciation for $120,000.
Correct Answer:
Verified
Correct Answer:
Verified
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