Rufina Corp sold for $20,000 plant assets that cost $40,000 and that had an accumulated depreciation of $8,000. The journal entry to record the transaction is:
A) Cash 20,000 Plant Assets 20,000
B) Plant Assets 32,000 Cash 32,000
C) Cash 20,000 Accumulated Depreciation 8,000Loss on Sale of Plant Assets 12,000Plant Assets 40,000
D) Cash 20,000 Loss on Sale of Plant Assets 12,000Plant Assets 32,000
C
Business
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