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A company sells a plant asset which originally cost $356000 for $119000 on December 31, 2018

Accounting

A company sells a plant asset which originally cost $356000 for $119000 on December 31, 2018. The Accumulated Depreciation account had a balance of $145000 after the current year's depreciation of $30000 had been recorded. The company should recognize a O $62000 loss on disposal. O $92000 loss on disposal. O $92000 gain on disposal. O $237000 loss on disposal.

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