On December 31, Strike Company has decided to sell one of its batting cages. The initial cost of the equipment was $274,817.00 with an accumulated depreciation of $261,076.15. Depreciation has been taken up to the end of the year. The company found a company that is willing to buy the equipment for $31,603.96. What is the amount of the gain or loss on this transaction? Select the correct answer.
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On December 31, Strike Company has decided to sell one of its batting cages. The initial cost of the...
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