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Furniture Costing $10,000 with Accumulated Depreciation of $10,000 Is Discarded

Question 173

Multiple Choice

Furniture costing $10,000 with accumulated depreciation of $10,000 is discarded.How would the company record this transaction?


A) Debit Furniture Expense for $10,000 and credit Furniture for $10,000.
B) Debit Furniture for $10,000 and credit Accumulated Depreciation-Furniture for $10,000.
C) Debit Furniture Expense for $10,000 and credit Accumulated Depreciation-Furniture for $10,000.
D) Debit Accumulated Depreciation-Furniture for $10,000 and credit Furniture for $10,000.
E) Debit Loss on Disposal for $10,000 and credit Furniture for $10,000.

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