a textile factory buys equipment on 1/1/2012 for the amount of 120,000$. equipment is expected...
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a textile factory buys equipment on 1/1/2012 for the amount of 120,000$. equipment is expected to last 15 years with a residual value of 6,700$. the factory calculates monthly depreciation expense. The factory sells the equipment for 105,000$ on 7/31/2018.
what Gain or loss recorded on date of sale
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