Equipment That Cost $144,000 and on Which $120,000 of Accumulated

question 178

Multiple Choice

Equipment that cost $144,000 and on which $120,000 of accumulated depreciation has been recorded was disposed of for $36,000 cash.The entry to record this event would include a

• A)gain of $12,000.
• B)loss of $12,000.
• C)credit to the Equipment account for $36,000.
• D)credit to Accumulated Depreciation for $120,000.

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