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Calculate the amount of the loss recorded on the sale

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Mason Company purchased a new machine on January 1, 2022 for $57,000. At the time of acquisition, the machine was estimated to have a service life of ten years and a residual value of $3,000. The company employs the double-declining balance depreciation method.

The machine was sold on December 31, 2024 for $14,300 cash.

Question 1: Calculate the amount of the loss recorded on the sale. Do not enter your answer with a minus sign in front of the number.

 

Reference no: EM132582208

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