Multiple Choice
An asset that cost $24,000 and has accumulated depreciation of $18,000 is sold for $5,200.The entry to record the sale includes
A) no gain or loss.
B) a debit to Loss on Sale of Asset for 800.
C) a credit to Loss on Sale of Asset for 18,800.
D) a credit to Gain on Sale of Asset for 800.
Correct Answer:
Verified
Correct Answer:
Verified
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