On December 31, 2016, Hamilton Inc. sold a used industrial crane for $1,045,000 cash. The original cost of the crane was $5.28 million and its accumulated depreciation equaled $4.34 million on December 31, 2016. What is the gain or loss from the December 31, 2016 equipment sale?

Match the terms with their correct definition. terms: 1. accounts receivable 2. other receivables 3 debtor 4. notes receivable 5. maturity date 6. creditor definitions: a. the party to a credit transaction who takes on an obligation/payable. b. the party who receives a receivable and will collect cash in the future. c. a written promise to pay a specified amount of money at a particular future date. d. the date when the note receivable is due. e. a miscellaneous category that includes any other type of receivable where there is a right to receive cash in the future. f. the right to receive cash in the future from customers for goods sold or for services performed.