Martin Co bought a delivery van for $46,400. Straight line depreciation has been recorded for...
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Martin Co bought a delivery van for $46,400. Straight line depreciation has been recorded for four years. The expected salvage value was $5,000 with an estimated useful life of six years. Depreciation was last recorded at the end of the fourth year. He n Martin disposed of the van for $21,000. What was the gain or loss on disposal?
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