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A company sells a plant asset that originally cost $350000 for $120000 on December 31, 2022. The accumulated depreciation account had a balance of $140000

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A company sells a plant asset that originally cost $350000 for $120000 on December 31, 2022. The accumulated depreciation account had a balance of $140000 after the current year's depreciation of $35000 had been recorded. The company should recognize a $230000 loss on disposal. $55000 loss on disposal $90000 gain on disposal. $90000 loss on disposal

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