A Plant Asset Originally Cost $48,000 and Was Estimated to Have

Short Answer

A plant asset originally cost $48,000 and was estimated to have a $3,000 salvage value at the end of its 5-year useful life. If at the end of three years, the asset was sold for $9,000, and had accumulated depreciation recorded of $27,000, the company should recognize a ______________ on disposal in the amount of $____________.