On December 31, Strike Company traded-in one of its batting cages for another one that has a cost of $500,000.Strike receives a trade-in allowance of $11,000 . The old equipment had an initial cost of $215,000 and hasaccumulated depreciation of $185,000 . Depreciation has been recorded up to the end of the year. The differencewill be paid in cash. What is the amount of the gain or loss on this

transaction?
a. loss of $11,000
b. no loss or gain will be recorded
c. loss of $19,000
d. gain of $11,000


c

Business

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