Solved: If jake sells the computer during the current year for 2125, Accounting Basics

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If jake sells the computer during the current year for 2125

Question - Jake bought a computer three years ago for use exclusively in his consulting business. He expensed the entire cost of the computer under Section 179. If Jake sells the computer during the current year for $2,125, what is the amount and character of his recognized gain?

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Accounting Basics: If jake sells the computer during the current year for 2125

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