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How much is the gain or loss from the sale of equipment

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Question - Partial Balance Sheet of Carriedo Enterprises showed the following on January 2, 2020: Office Equipment, P165,000, Accumulated Depreciation, P57,750. The asset has already been depreciated for exactly 3% years. On March 31, 2020, it was sold for P104,125. How much is the gain or loss from the sale of equipment?

Reference no: EM133099695

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