View Policies Current Attempt in Progress On April 1,2023, Oriole Limited sold some equipment...

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Accounting

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On April 1,2023, Oriole Limited sold some equipment for $56200 cash. The original cost on January 1,2017 was $146200. Accumulated depreciation at December 31,2022(the company's year end) was $87000. The equipment was being depreciated ove 10 years on a straight-line basis with no residual value. What is the gain or loss on sale of the equipment?
$3000 loss
$4310 gain
$655 gain
$2345 los
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