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A company sells a plant asset that originally cost $420000 for $140000 on December 31, 2022. The accumulated depreciation account had a balance of $168000

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A company sells a plant asset that originally cost $420000 for $140000 on December 31, 2022. The accumulated depreciation account had a balance of $168000 after the current year's depreciation of $42000 had been recorded. The company should recognize a O $112000 gain on disposal. O $112000 loss on disposal. $280000 loss on disposal. $70000 loss on disposal

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