Puckett Co. has office furniture that cost $75,000 and that has been depreciated $50,000. Record the disposal

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Puckett Co. has office furniture that cost $75,000 and that has been depreciated $50,000. Record the disposal under the following assumptions.

 

A.  It was scrapped as having no value.

 

B.  It was sold for $21,000.

 

C.  It was sold for $31,000.

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