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Provide the journal entry to reflect the sale

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Commando Limited acquired an item of plant on 1 July 2016 for $80,000. The estimated useful life of the plant at acquisition date was 5 years and the residual value $5000. The company sold the plant on 1 January 2020 for $30 000.

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Problem 1: Provide the journal entry to reflect the sale. Exclude journal narrations.

Reference no: EM132763893

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