Short Answer
Complete the following statements:
-A plant asset originally cost $16,000 and was estimated to have a $1,000 residual value at the end of its 5-year useful life. If at the end of three years, the asset was sold for $4,000, and had accumulated depreciation recorded of $9,000, the company should recognise a(n) ______________ on disposal in the amount of $____________.
Correct Answer:
Verified
Correct Answer:
Verified
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