1) On 1 December 2014 an item of factory property, plant and equipment that originally cost $299 600 (Accumulated depreciation at 1 April 2014 - $78 400) was sold for $265 000. The entry made in the records to account for the sale was: 1 August 2014 D Cash 265 000 265 000 C Property, plant and equipment at cost Entry to account for the sale of property, plant and equipment Property, plant and equipment are depreciated on the straight-line basis at 15 per cent per annum. Depreciation has yet to be provided for on property, plant and equipment. The reporting date is 31 March. Required: Prepare the journal entry/ies to correctly account for the sale of the property, plant and equipment. Q2) The following information has been extracted from Triage Co's trial balance: Plant and equipment - cost Plant and equipment - accumulated depreciation $72,100 $28,100 Included within the cost is an item of equipment that was purchased for $10,000 on 30 September 20X5 Traige Co's notes to the financial statements reveal that depreciation is charged at 15% per annum on a reducing balance basis, time apportioned in the years of acquisition and disposal. In accordance with IAS 16 Property, Plant and Equipment, what is the depreciation charged to Triage Co's statement of profit and loss in respect of the plant and equipment for the year ended 31 March 20X6