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Indicate which accounts are increased

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Question - Finney Company sold a machine for $12,000. The machine originally cost $34,000 in 2018 and $8,000 was spent on a major overhaul in 2021 (charged to the Equipment account). Accumulated Depreciation on the machine to the date of disposal was $30,000. Indicate which accounts are increased and /or decreased and by which amount to record the disposition of the machine.

Reference no: EM132953207

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