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Question(s) / Instruction(s):

An entity purchased a machine on January 1, 20XI for 1,000.000. The machine had an estimated useful life of 9 years and a residual value of 100,000. The company uses straight-line depreciation. On December 31, 20X4, the machine was sold for 535,000. The gain or loss that should be recorded on the

                a. 35,000 gain.   

                b. 65,000 loss.   

                c. 365,000 loss. 

                d. 465,000 loss. 

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