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An Asset with a Cost of $45,000 Was Sold for $9,500

Question 115

Multiple Choice

An asset with a cost of $45,000 was sold for $9,500 and resulted in a gain of $2,000. How much was accumulated depreciation at the time of sale?

A) $39,500
B) $45,000
C) $37,500
D) $35,500

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