On December 31, 2018, Cee Corp

question 2

Multiple Choice

On December 31, 2018, Cee Corp. sells an asset that originally cost $300,000 for $75,000. The company recognized a loss on disposal of $25,000. What was the balance of the accumulated depreciation account after the current year's depreciation of $15,000 was recorded?

• A) $ 25,000 gain
• B) $ 25,000 loss
• C) $125,000 gain
• D) $125,000 loss

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