The following information is available in respect of a trader’s non-current assets.
During the year ended 31 May 2021, a non-current asset which had cost $\$ 10000$ was sold. There was a loss on disposal of $\$ 1200$.
What were the sale proceeds?
$\$ 5800$
2 )
$\$ 7000$
3 )
$\$ 8200$
4 )
$\$ 8800$
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