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What would be the entry to record the disposal

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Question - A plant asset acquired on January 1, 2015, at a cost of SR240,000 and has an estimated useful life of 5 years. The residual value is estimated to be SR50,000 at the end of the asset's useful life. (Company is using straight line method). If the company sold the asset on 31 August 2018 by SR 90,000 what would be the entry to record the disposal of the asset?

Reference no: EM132926627

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