Multiple Choice
If equipment that cost $100 000 and has accumulated depreciation of $70 000 is sold for $20 000,the journal entry to record the sale would include:
A) Cr Loss on sale,$10 000.
B) Dr Gain on sale,$10 000.
C) Dr Accumulated depreciation,$70 000.
D) Cr Equipment,$20 000.
Correct Answer:
Verified
Correct Answer:
Verified
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