On January 1, 2016, BelgianAir purchases an airplane for €14,400,000. The components of the airplane and their useful lives are as follows: 
BelgianAir uses the straight-line method of depreciation. The asset is assumed to have no salvage value. Under IFRS, the entry to record the acquisition of the airplane would include
A) a debit to Asset/ Airplane of €14,400,000.
B) a debit to Asset/ Airplane frame of €14,400,000.
C) a debit to Asset/ Airplane engine of €4,800,000.
D) cannot be determined from the information given.
Correct Answer:
Verified
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