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Business, 04.11.2019 22:31 cedavenport1277

Jerabek inc. decided to sell one of its fixed assets that had a cost of $55,000 and accumulated depreciation of $35,000 on july 1, 2019. on that date, jerabek sold the fixed asset for $15,000. what was the resulting gain or loss from the sale of the asset?
a.$15,000 gain
b.$15,000 loss
c.$5,000 loss
d.$5,000 gain

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