Multiple Choice
Galloway Corporation sold equipment with an original cost of $120,000 for $55,000 cash and recorded a loss of $15,000.What was the balance in the accumulated depreciation account on the date of the sale?
A) $60,000
B) $70,000
C) $55,000
D) $50,000
Correct Answer:
Verified
Correct Answer:
Verified
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