7. Cheesecake Factory Restaurant Company purchased equipment that cost $520,000. It had an estimated useful life of five years and no residual value. The equipment was depreciated by the straight-line method and was sold at the end of the third year of use. For what amount should Cheesecake Factory record the gain or loss if the equipment is sold for $185,000? Make the journal entry. Account Name                Debit              Credit

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Q: s

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