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Bongi Ltd sold equipment for R10 000 cash on 31 December 2023. The equipment was originally acquired on 1 January 2019, at a cost

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Bongi Ltd sold equipment for R10 000 cash on 31 December 2023. The equipment was originally acquired on 1 January 2019, at a cost price of R60 000. The equipment had a useful life of five years and a residual value of R10 000, while depreciation is provided using the straight-line method. The profit/loss recorded on the sale will amount to?

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