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Premiere discarded the equipment even though its book value

Question - Premiere Corporation operates on a calendar year. Premiere Corporation purchased a piece of equipment on March 15th, 2008, for $100,000. On January 1, 2013, Premiere discarded the equipment, even though its book value was $11,250. How should Premiere record the details of the equipment disposal?

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Accounting Basics: Premiere discarded the equipment even though its book value

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Accounting Basics: Premiere discarded the equipment even though its book value

Reference No:- TGS02669157

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