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Find the gain or loss on disposal is

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On July 1, 2021, Fleming Company sells machinery for $240,000. The machinery originally cost $600,000, had an estimated 5-year life and an expected salvage value of $100,000. The Accumulated Depreciation account had a balance of $350,000 on January 1, 2021 using the straight-line method. The gain or loss on disposal is ?

Reference no: EM132354716

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