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A company sells a plant asset that originally cost $675000 for $310000 on December 31, 2017. The accumulated depreciation account had a balance of $270000

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A company sells a plant asset that originally cost $675000 for $310000 on December 31, 2017. The accumulated depreciation account had a balance of $270000 after the current year's depreciation of $67500 had been recorded. The company should recognize a $365000 loss on disposal. $95000 gain on disposal. $95000 loss on disposal. $27500 loss on disposal

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