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An Asset Which Costs $18,800 and Has Accumulated Depreciation of $6,000

Question 43

Multiple Choice

An asset which costs $18,800 and has accumulated depreciation of $6,000 is sold for $11,600.What amount of gain or loss will be recognized when the asset is sold?


A) A gain of $1,200.
B) A loss of $1,200.
C) A loss of $7,200.
D) A gain of $7,200.

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