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QUESTION
On June 30, 2016, after adjusting entries were posted, Alpha Company sold a machine. The historical cost was $11,000 and the book value was $2,500....
On June 30, 2016, after adjusting entries were posted, Alpha Company sold a machine. The historical cost was $11,000 and the book value was $2,500. It was sold for $1,100 cash. Using this information, how much should be recorded on June 30 for the following accounts:
- Accumulated Depreciation, Machine
- Gain or (Loss) on Sale (Enter any loss amount with $ sign inside of brackets)
- Machine
