Multiple Choice
On December 31, 2018, Cee Corp. sells an asset that originally cost $300,000 for $75,000. The company recognized a loss on disposal of $25,000. What was the balance of the accumulated depreciation account after the current year's depreciation of $15,000 was recorded?
A) $ 25,000 gain
B) $ 25,000 loss
C) $125,000 gain
D) $125,000 loss
Correct Answer:
Verified
Correct Answer:
Verified
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