Business, 20.12.2019 01:31, lexhorton2002

Equipment was purchased at a cost of $78,000. the equipment had an estimated useful life of five years and a residual value of $3,000. assuming the equipment was sold at the end of year 4 for $8,000, determine the gain or loss on the sale of equipment. (assume the straight-line depreciation method.)

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Equipment was purchased at a cost of $78,000. the equipment had an estimated useful life of five yea...