Mason Company purchased a new machine on January 1, 2018 for $45,000. At the time...
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Accounting
Mason Company purchased a new machine on January 1, 2018 for $45,000. At the time of acquisition, the machine was estimated to have a useful life of ten years and a salvage value of $6,000. The company uses the straight-line depreciation method of calculating depreciation. On July 31, 2023, the machine was sold for $13,000 cash. Calculate the amount of the loss recorded on the sale. Do not put a minus sign in front of your answer.
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