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A company sells a plant asset which originally cost $355000 for $111000 on December 31, 2021. The Accumulated Depreciation account had a balance of

A company sells a plant asset which originally cost $355000 for $111000 on December 31, 2021. The Accumulated Depreciation account had a balance of $143000 after the current year's depreciation of $38000 had been recorded. The company should recognize a $101000 loss on disposal. $244000 loss on disposal. $63000 loss on disposal. $101000 gain on disposal.

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