fixed asset with a cost of $25,104 and accumulated depreciation of $22,593.60 is sold for $4,267.68. What is the amount of the gain or loss on disposal of the fixed asset? a.$1,757.28 gain b.$2,510.40 loss c.$1,757.28 loss d.$2,510.40 gain

Cornerstones of Financial Accounting
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Chapter7: Operating Assets
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  1. A fixed asset with a cost of $25,104 and accumulated depreciation of $22,593.60 is sold for $4,267.68. What is the amount of the gain or loss on disposal of the fixed asset?

    a.$1,757.28 gain
    b.$2,510.40 loss
    c.$1,757.28 loss
    d.$2,510.40 gain
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