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What amount of the gain or loss on the transaction

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Problem 1: On December 31, Strike Company sold one of its batting cages for $50,000. The equipment had an original cost of $310,000 and has accumulated depreciation of $260,000. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction?

Option a. gain of $50,000

Option b. no gain or loss

Option c. loss of $50,000

Option d. Cannot be determine

Reference no: EM132476413

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