Multiple Choice
On December 31,Strike Company sold one of its batting cages for $20,000.The equipment had an initial cost of $310,000 and had accumulated depreciation of $260,000.Depreciation has been recorded up to the end of the year.What is the amount of the gain or loss on this transaction?
A) gain of $20,000
B) gain of $30,000
C) loss of $20,000
D) loss of $30,000
Correct Answer:
Verified
Correct Answer:
Verified
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