If the proceeds from a sale of equipment is greater than the book value of the equipment as on the date of sale, a loss is recorded.

Name: If the proceeds from a sale of equipment is greater than the book value of the equipment as on the date of sale, a loss is recorded.
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If the proceeds from a sale of equipment is greater than the book value of the equipment, a gain is recorded, not a loss. A loss is recorded when the proceeds are less than the book value.

If the Proceeds from a Sale of Equipment Is Greater