. During 2020, Node Co. sold equipment that had cost $392,000 for $235,200. This resulted...
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. During 2020, Node Co. sold equipment that had cost $392,000 for $235,200. This resulted in a gain of $17,200. The balance in Accumulated DepreciationEquipment was $1,300,000 on January 1, 2020, and $1,240,000 on December 31. No other equipment was disposed of during 2020. Explain the formulas used.
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