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Assume that Hart corporation's comparative balance sheet reported these amounts:
December 31
2017 2016
Plant and Equipment..................................... $625,000 $609,000
Less: Accumulated Depreciation................... $155,000 $135,000
Net Plant and Equipment............................... $470,000 $474,000
1. Assume that on January 1, 2018, Hart sold one-tenth of its plant and equipment for 56,000 cash. Journalize this transaction for Hart
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