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What amount of gain or loss would it record on the sale

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Question - Serge Corporation purchased some equipment on October 1, 2017 for $23,880 and expects it to be useful for 6 years at which time it will be worth $1,200. If the company sold the equipment on December 31, 2019 for $14,000 what amount of gain or loss would it record on the sale? Use a positive number to indicate a gain or a negative number to indicate a loss.

Reference no: EM132540855

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