Orbit Airways purchased a baggage- handling truck for $ 41,000. Suppose Orbit Airways sold the truck on
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Orbit Airways purchased a baggage- handling truck for $ 41,000. Suppose Orbit Airways sold the truck on December 31, 2014, for $ 28,000 cash, after using the truck for two full years and accumulating depreciation of $ 16,000. Make the journal entry to record Orbit Airways’ sale of the truck.
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Journal DATE ACCOUNTS POST REF DR CR 2014 Dec 31 Cash 28000 AccumulatedDeprecia...View the full answer
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Related Book For 
Financial Accounting
ISBN: 978-0132889711
1st Canadian Edition
Authors: Jeffrey Waybright, Liang Hsuan Chen, Rhonda Pyper
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