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-What if you find that an ASSET is listed on the Financial Statements, but when you select it to sample, you find it is NOT
-What if you find that an ASSET is listed on the Financial Statements, but when you select it to sample, you find it is NOT THERE. But, it's still on the books. After inquiring of Management, you learn that the plane was sold two years ago. - Gather your information: - Single Engine Plane on the books at: -Historic Cost of $30,000 (Asset-Plane account); -Accumulated Depreciation account of $8,000 - Depreciation Expense account this year $2,000 - The plane was sold two years ago for $17,000 cash. -What journal entry do you suggest your client make
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