Mildred received $ 30,000 in cash from the sale of a building that cost her...

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Accounting

Mildred received $ 30,000 in cash from the sale of a building that cost her $ 60,000 and had accumulated depreciation of $ 35,000. In addition, the buyer assumed the mortgage of $ 12,000. What was the realized gain or loss?

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Mildred received $ 30,000 in cash from the sale of a building that cost her...

70.2K

Verified Solution

Question

Accounting

Mildred received $ 30,000 in cash from the sale of a building that cost her $ 60,000 and had accumulated depreciation of $ 35,000. In addition, the buyer assumed the mortgage of $ 12,000. What was the realized gain or loss?

Answer & Explanation Solved by verified expert

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