Discuss the following additional short question Lima ltd entered into the following two transactions relating to items of PPE during the year ended 31 December 2012. Asset A with a carrying amount of N$210 000 on 1 January 2012 and an original cost of N$400 000 was sold for N$220 000 on 30 June 2012. The payment will only be received on 30 June 2013. Asset B with the carrying amount of N$400 000 on 1 January 2012 and original cost of N$800 000, was withdrawn from use on 30 September 2012 after environmental inspectors certified that the asset could no longer be used. The asset cannot be altered to secure further use which makes sale thereof unlikely. The scrap value of the asset is negligible. Both these assets are depreciated at 20% per annum on a straight-line basis and the current interest rate on asset financing is 10% per annum. Assume that the revenue recognition criteria have been adhered to in the case of asset A and that the disposal was therefore recognised on 30 June 2012. Required: Determine the profit or loss on derecognition of the two assets and interest received.