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lake a lest- Enn Mack-Google Chrome 0 Serure | https://www.mathxl.oStdent/PlayerTest.aspx?testld-178593970centerwin-yes AC 231 ON (Online) Spring 2018 business purchases Test: Test #4-Chapters 8 & 9 Time Remaining: 1:2659 Submt lest This Test: 30 pts possibie pe This Question: 1 pt 1 of 30 (13 complete)> Tulp Corporation purchased equipment for S58,030 on January 1, 201T. On December 31, 2019, the equipment was sold tor S25,000. Accumulated Deprecia on as of December 31, 2019 was $29,000 Galeulate gain ar lss on the sak O A· $4,000 loss O B. $4,000 gan O C. $29,000 lose D. no gain no oss Cick to select your answer Type: here to search 114 AM 4/10/2018Explanation / Answer
B. $4,000 gain
Gain on sale = $58,000 - $29,000 - $25,000
Gain on sale = $4,000 gain
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