Franco company sold office furniture for $2400 cash. the furniture cost $70, 000 and had accumulated depreciation through the date of sale totaling $32, 000. the company will recognize: select one: a. a gain of $35, 600.b. a loss of $38, 000.c. a loss of $35, 600.d. a gain of $38, 000.

On april 1, santa fe, inc. paid griffith publishing company $2,448 for 36-month subscriptions to several different magazines. santa fe debited the prepayment to a prepaid subscriptions account, and the subscriptions started immediately. what amount should appear in the prepaid subscription account for santa fe, inc. after adjustments on december 31 of the first year assuming the company is using a calendar-year reporting period and no previous adjustment has been made?