A company sold equipment that originally cost for cash The

Question

A company sold equipment that originally cost $100,000 for $60,000 cash. The accumulated depreciation on the equipment was $40,000. The company should recognize a:
A.$0 gain or loss.
B.$20,000 gain.
C.$20,000 loss.
D.$40,000 loss.
E.$60,000 gain.

Answer

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