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A Building Cost $550,000 and Had Accumulated Depreciation of $450,000

Question 56

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A building cost $550,000 and had accumulated depreciation of $450,000 when it was sold for cash at a loss of $30,000.Proceeds from the sale of the building are:
1.$________ and are 2.a(n)________ activity.

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1.$70,000,...

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