On December 31, Strike Company sold one of its batting cages for $50,000. The equipment had an original cost of $310,000 and has accumulated depreciation of $260,000. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction? Group of answer choices
loss of $50,000
gain of $50,000
loss of $260,000
no gain or loss
Answers: 1
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