5 Identify which is the correct answer. 6. A company sells a plant asset which originally cost 420,000 for 140,000 on December 31, 2014. The Accumulated Depreciation account had a balance of 168,000 after the current year's depreciation of 42,000 had been recorded. The company should recognize a a 280,000 loss on disposal b. 112.000 gain on disposal. c. 112,000 loss on disposal. d 70.000 loss on disposal