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QUESTION
how do i know if its a loss or gain?
how do i know if its a loss or gain? for example
On June 1, 2016 Axle Corporation sold a truck for $10,000 cash. The truck originally cost $45,000 and the accumulated depreciation as of May 31, 2016 was 37,600.
would this be a loss since he bought if for more then he sold it for?
