Multiple Choice
Cranston Instrumentation sold a depreciable asset for cash of $150,000.The original cost of the asset was $600,000.Cranston recognized a gain of $22,500 on the sale.What was the amount of accumulated depreciation on the asset at the time of its sale?
A) $472,500
B) $127,500
C) $577,500
D) $495,000
Correct Answer:
Verified
Correct Answer:
Verified
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