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Question
Gaston owns equipment that cost $90,500 with accumulated depreciation of $61,000. Gaston asks $30,000 for the equipment but sells the equipment for $26,000. Which of the following would not be part of the journal entry to record the disposal of the equipment?A.Debit Accumulated Depreciation $61,000.
B.Credit Equipment $90,500.
C.Debit Loss on Disposal of Equipment $3,500.
D.Credit Gain on Disposal of Equipment $3,500.
E.Debit Cash $6,000.
Answer
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