Marty sells he personal use automobile for $20,000. He purchased the car two years ago...
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Accounting
Marty sells he personal use automobile for $20,000. He purchased the car two years ago for $17,000. What is Martys recognized gain or loss? It increased in value due to its excellent mileage, yet safe design.
a. $0 b. $3,000 c. $17,000 d. $20,000 e. None of the above
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