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Homework answers / question archive / A company sold for $3,000 a plant asset that had a cost of $10,000 and accumulated depreciation of $7,500

A company sold for $3,000 a plant asset that had a cost of $10,000 and accumulated depreciation of $7,500

Accounting

A company sold for $3,000 a plant asset that had a cost of $10,000 and accumulated depreciation of $7,500. The company had a:

    1. loss of $7,000.
    2. loss of $500.
    3. gain of $500.
    4. gain of $3,000.

 

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