On June 1, 2017, Brislin Company sold some equipment for $22,000. The original cost was $80,000,

On June 1, 2017, Brislin Company sold some equipment for $22,000. The original cost was $80,000,

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 On June 1, 2017, Brislin Company sold some equipment for $22,000. The original cost was $80,000, the estimated salvage value was $8,000, and the expected useful life was 8 years. The equipment was fully depreciated. How much is the gain or loss on the sale?






$50,000 loss


 


$5,400 gain


 


$14,000 gain


 


$850 loss

 
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