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(a) The following financial extracts relate to Concord Ltd for years 2018 and 2019. 2018 2019 Plant & equipment [cost] 310,000 248,000 Accumulated depreciation (90,000)

(a) The following financial extracts relate to Concord Ltd for years 2018 and 2019. 2018 2019 Plant & equipment [cost] 310,000 248,000 Accumulated depreciation (90,000) (120,000) During 2019 the following occurred: Purchase of plant & equipment 25,000 Depreciation charge on plant & equipment 35,000 Loss on plant disposal 12,000 Required: Identify the sale proceeds from the sale of plant. [4]

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