Selling an asset at gain or loss mill creek golf club, Accounting Basics

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Selling an asset at gain or loss mill creek golf club

Question: Selling an asset at gain or loss Mill Creek Golf Club purchased equipment on January 1, 2016, for $31,500. Suppose Mill Creek Golf Club sold the equipment for $22,000 on December 31, 2018. Accumulated Depreciation as of December 31, 2018, was $21,000. Journalize the sale of the equipment, assuming straight-line depreciation was used.

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Accounting Basics: Selling an asset at gain or loss mill creek golf club

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