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Question: Granite Stone Creamery sold ice cream equipment for $16,000. Granite Stone originally purchased the equipment for $90,000, and depreciation through the date of sale totaled $71,000. ... Record the gain or loss on the sale of the equipment. (If no entry is required for a particular transaction/event, select "No Journal Entry Required ...
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Granite Stone Creamery sold ice cream equipment for $13, 200. Granite Stone originally purchased the equipment for $83, 000, and depreciation through the date of sale totaled $67, 500. Determine the financial statement effects of the gain or loss on the sale of the equipment. (Amounts to be deducted should be entered with minus sign.)
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Question: Granite Stone Creamery sold ice cream equipment for $16,000. Granite Stone criginally purchased the equipment for $90,000, and depreciation through the date of sale totaled 571000 . What was the gain or loss on the sale of the equipment? Show transcribed image text. There are 2 steps to solve this one.
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