An asset was purchased for 12000 the assets estimated

Reference no: EM13578619

An asset was purchased for 12,000. The asset's estimated useful life was 3 years and its residual value was 2000. how much gain or loss is reported if the asset is sold for 5,333 at the begining for the third year if the straight line method of depreciation was used?

Reference no: EM13578619

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