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Business, 07.10.2020 23:01 yasameenakbari

On December 31, 2021, Company A sold equipment to Company B and simultaneously leased it back for one year. The sales price for the equipment was $497. The carrying amount of the equipment was $443. The present value of the lease payments ($4,000 for 12 months at 6%) is $46,708. The equipment has an estimated remaining useful life of ten years. In Company A's December 31, 2021, income statement, the gain from the sale of this machine should be

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