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The following information is taken from the accounts of ABC Ltd. During the year they sold a plant for cash. $ Plant, 1 July 2018
The following information is taken from the accounts of ABC Ltd. During the year they sold a plant for cash. $ Plant, 1 July 2018 200,000 Plant, 30 June 2019 300,000 Accumulated Depreciation - Plant, 1 July 2018 45,000 Accumulated Depreciation - Plant, 30 June 2019 50,000 Depreciation Expense Plant, year ended 30 June 2019 15,000 Loss on sale of plant, year ended 30 June 2019 8,000 Original cost of plant sold during the year 80,000 Write the journal entry for the sale of plant
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