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(Solved) (Latest ver. Aug 2020) - Machinary a/c, accumulated depreciation a/c

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On January 1, 2004, the Accumulated Depreciation, Machinery account of a particular company showed a balance of $740,000. At the end of 2004, after the adjusting entries were posted, it showed a balance of $790,000. During 2004, one of the machines which cost $250,000 was sold for $121,000 cash. This resulted in a loss of $8,000. Assuming that no other assets were disposed of during the year, how much was depreciation expense for 2004?


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