A company sells a plant asset that originally cost $660000 for $120000on December 31,2027. The...

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Accounting

A company sells a plant asset that originally cost $660000 for $120000on December 31,2027. The accumulated depreciation
account had a balance of $330000 after the current year's depreciation of $55000 had been recorded. The company should recognize
a
$120000 gain on disposal.
$210000 loss on disposal.
$120000 loss on disposal.
$30000 gain on disposal.
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