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Calculating Gains and Losses on Disposal Chris' Crispy Chicken sold one of its used...

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Accounting

Calculating Gains and Losses on Disposal

Chris' Crispy Chicken sold one of its used deep fryers for $5,000. The orignal cost of the fryer was $15,000, and related accumulated depreciation at he time of teh sale was $7,000.

Required

Calculate the gain or loss on the sale of the deep fryer. For waht amount would Chris need to sell the equipment to generate no gain or loss?

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