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A company sells a plant asset that originally cost $450000 for $200000 on December 31, 2022. The accumulated depreciation account had a balance of $180000 after the current year's depreciation of $45000 had been recorded. The company should recognize a ________.

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Answer:

$90,000 loss on disposal

Explanation:

If the current year's depreciation of $45,000 is recorded, the loss on disposal will be $45,000 multiplied by 2 which is $90,000

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