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Calculate the amount of the loss recorded on the sale

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Question - On June 1, 2021, XYZ Company paid $150,000 to purchase equipment. The equipment was assigned a useful life of 15 years and a $6,000 residual value. The equipment will be depreciated using the straight-line method.

On November 1, 2027, XYZ Company sold the equipment for $72,100 cash.

Calculate the amount of the loss recorded on the sale of the equipment. Do not put a minus sign in front of your answer.

Reference no: EM132504186

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