A plant asset originally cost $64,000 and was estimated to have a $4,000 residual value at the end of its 5-year useful life. If at the end of three years, the asset was sold for $12,000, and had accumulated depreciation recorded of $36,000, the company should recognize a ______________ on disposal in the amount of $____________.

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The Answer of A plant asset originally cost $64,000 and was estimated to have a $4,000 residual value at the end of its 5-year useful life. If at the end of three years, the asset was sold for $12,000, and had accumulated depreciation recorded of $36,000, the company should recognize a ______________ on disposal in the amount of $____________.

A Plant Asset Originally Cost $64,000 and Was Estimated to Have