Multiple Choice
DFS Company sold an asset for $8,500 in cash.The asset had an historical cost of $30,000 and accumulated depreciation of $20,000 on the day it was sold.How much is the gain or loss on the sale?
A) $21,500 loss
B) $10,000 loss
C) $1,500 loss
D) $1,500 gain
Correct Answer:
Verified
Correct Answer:
Verified
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