Stout Company scrapped a truck with a historical cost of $60,000 and accumulated depreciation of $48,000. In

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Stout Company scrapped a truck with a historical cost of $60,000 and accumulated depreciation of $48,000. In addition, the company had to pay $500 to discard the truck. Make the necessary journal entry to record this transaction.

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Accounting concepts and applications

ISBN: 978-0538745482

11th Edition

Authors: Albrecht Stice, Stice Swain

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