Solved: Ahrens sold the machine on march 1 2017 for 48000 how much, Accounting Basics

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Ahrens sold the machine on march 1 2017 for 48000 how much

Question - On May 1, 2008, Ahrens Industries purchased a machine for $352,000. At that time, the machine had an estimated 10-year useful life and $16,000 salvage value. Ahrens has recorded monthly straight-line depreciation on the machine. Ahrens sold the machine on March 1, 2017 for $48,000. How much loss should Ahrens recognize on the sale?

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