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Calculate the amount of the loss recorded on the sale

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Reference no: EM132753100

Question: On January 1, 2020, DZ-9Jb Company purchased a new machine for $131,000. The machine was assigned a residual value of $6,230 and an expected life of 20 years. DZ-9Jb Company will use the double-declining balance method to calculate depreciation on the machine.

On December 31, 2022, the machine was sold for $27,000 cash.

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

Reference no: EM132753100

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