On January 1, 2015, Chunde Company purchased a machine for $46,800. Chunde uses straight-line depreciation and estimates an eight-year useful life and an $3,600 salvage value. On December 31, 2018, Chunde sells the machine for $28,000.
In recording this sale, Chunde should reflect:
Select one:
A. A $2,800 gain
B. A $800 loss
C. A $6,400 gain
D. No gain or loss
A. A $2,800 gain
Business
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a. capitalized and never amortized. b. capitalized and amortized over 40 years. c. capitalized and amortized over 5 years. d. expensed as incurred.
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Most sales force automation initiatives have been successful.
a. true b. false
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