Net Book Value at the time of Sale = Original Cost - Accumulated Depreciation
= $17,000 - $12,000 = $5,000
Gain = Sale price - Net Book Value at the time of Sale
= $5,500 - $5,000 = $500
Option B. is correct answer.
Motor Sales sold its old office furniture for $5,500. The original cost was $17,000, and at...
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