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Mayah S.

asked • 12/16/19

A fixed asset with a cost of $30,000 and accumulated depreciation of $27,500 is sold for $3,500. What is the amount of the gain or loss on disposal of the fixed asset?

 A. $3,500 gain B. $1,000 gain C. $1,000 loss D. $2,500 loss C. $3,500 loss D. $2,500 gain

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