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What was the amount of the loss or gain

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Question - If Wheeler Inc. purchased some equipment for $3,900 on 1/1/16, the equipment had an estimated life of 5 years, and an expected residual value of $200 and the equipment was sold for $1,000 on 7/1/2018. What was the amount of the loss or gain recognized in the sale if Wheeler uses straight-line depreciation?

Reference no: EM132435964

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