Carney Company manufactures cappuccino makers. For the first eight months of 2019, the company reported the following operating results while operating at 80% of plant capacity: Sales (500,000 units) $90,000,000 Cost of goods sold 54,000,000 Gross
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A fixed asset with a cost of $30,000 and accumulated depreciation of $27,500 is sold for $3,500. What is the amount of the gain or loss on the disposal of the fixed asset? A. $3,500 gain B. $1,000 gain C. $1,000 loss D. $2,500 loss C. $3,500 loss D.
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