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provide explanation 13. A company sells a plant asset that originally cost $150,000 for $50,000 on December 31St of the current year. The accumulated depreciation
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13. A company sells a plant asset that originally cost $150,000 for $50,000 on December 31St of the current year. The accumulated depreciation account had a balance of $60,000 after the current year's depreciation of $15,000 had been recprded. The company should recognize a A) $100,000 loss on disposal. B) $40,000 gain on disposal. $40,000 loss on disposal. $25,000 loss on disposal. )Step by Step Solution
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