Solved: Actg 4650 assignment sitton sold the machine on may 1 2017, Accounting Basics

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Actg 4650 assignment sitton sold the machine on may 1 2017

Question - On January 1, 2013, Sitton Incorporated purchased a machine for $960,000. The machine had a 5-year useful life and $60,000 salvage value, and straight-line depreciation has been recorded. Sitton sold the machine on May 1, 2017 at a gain of $18,000. How much was Sitton paid for the machine?

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Accounting Basics: Actg 4650 assignment sitton sold the machine on may 1 2017

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