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Compute the gain or loss on disposal

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Question - On July 1, 2017, Blossom Company sells equipment for $88000. The equipment originally cost $200000, had an estimated 5-year life and an expected salvage value of $50000. Accumulated Depreciation had a balance of $105000 on January 1, 2017, using the straight-line method. Compute the gain or loss on disposal?

Reference no: EM132499069

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