On December 31, Strike Company sold one of its batting cages for $50,000 . The equipment had an original cost of$310,000 and has accumulated depreciation of $260,000 . Depreciation has been recorded up to the end of theyear. What is the amount of the gain or loss on this transaction?
a. no gain or loss
b. loss of $50,000
c. gain of $50,000
d. cannot be determined
a
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