Question: On 1 June 2 0 2 3 a machine was sold which cost 2 0 , 0 0 0 on 3 1 July 2

 On 1 June 2023 a machine was sold which cost €20,000 on 31 July 2019. The sale proceeds were £5,500. The depreciation policy for machinery is 20% pa straight line, with a full year being charged in the year of acquisition and non in the year of disposal. The year-end is 31 December. What is the profit or loss on disposal?  Calculate.

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