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A company sells a PP&E asset for $120,000 on December 31, 2017. The PP&E originally cost $360,000and its accumulated depreciation account had a balance of
A company sells a PP&E asset for $120,000 on December 31, 2017. The PP&E originally cost $360,000and its accumulated depreciation account had a balance of $180,000 after the current year's depreciation of $30,000 had been recorded. The company should a. debit a $40,000 gain on disposal. b.credit a $60,000 loss on disposal. C. credit a $120,000 loss on disposal. d. debit a $60,000 loss on disposal
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