Bread Company Sells a Plant Asset That Originally Cost $1,080,000

Multiple Choice

Bread Company sells a plant asset that originally cost $1,080,000 for $360,000 on December 31, 2019. The accumulated depreciation account had a balance of $540,000 after the current year's depreciation had been recorded.
The company should recognize a:

A) $360,000 loss on disposal
B) $180,000 loss on disposal
C) $180,000 gain on disposal
D) $360,000 gain on disposal