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The information below is from Petroni's Pizza financial statements: In 2021, Petroni's Pizza sold...

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Question

Accounting

The information below is from Petroni's Pizza financial statements:

In 2021, Petroni's Pizza sold a piece of equipment for $25,000 and spent $30,000 buying new equipment. What was the gain on the sale of the equipment?

Question 2 options:

$17,000
$27,000
$8,000
$20,000

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