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What is the journal entry recorded upon the sale of an item of property, plant, and equipment (PPE) that was sold for cash in excess
What is the journal entry recorded upon the sale of an item of property, plant, and equipment (PPE) that was sold for cash in excess of its carrying amount?
A) No journal entry is required.
B) Debit cashDebit accumulated depreciation Debit income on disposal of PPECredit PPE
C) Debit cashDebit PPECredit accumulated depredation Credit income on disposal of PPE
D) Debit cashDebit accumulated depreciation Credit PPE Credit income on disposal of PPE
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