Double declining method for depreciation

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Freeman Company purchased a machine on January 15, 2017, for $100,000. The machine was estimated to have a service life of ten years with an estimated residual value of $5,000. Freeman sold the machine on January 15, 2021 for $21,000. Freeman uses the double declining method for depreciation. Using this information, how much is the gain or (loss) for the equipment sale entry made on January 15, 2021. Enter a loss as a negative number.

Reference no: EM132421043

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