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A company sells a plant asset that originally cost $400000 for $185000 on December 31, 2022. The accumulated depreciation account had a balance of $160000

A company sells a plant asset that originally cost $400000 for $185000 on December 31, 2022. The accumulated depreciation account had a balance of $160000 after the current year's depreciation of $40000 had been recorded. The company should recognize a $15000 loss on disposal. $215000 loss on disposal. $55000 loss on disposal. $55000 gain on disposal. Click if you would like to Show Work for this question: Open Show Workimage text in transcribed

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