Top Flight Airways purchased a baggage-handling truck for $64,000. Suppose Top Flight Airways sold the truck on
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Top Flight Airways purchased a baggage-handling truck for $64,000. Suppose Top Flight Airways sold the truck on December 31, 2018, for $42,000 cash, after using the truck for three full years and accumulating depreciation of $27,000. Make the journal entry to record Top Flight Airways’ sale of the truck.
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Journal DATE ACCOUNTS POST REF Dr Cr 2018 Dec 31 Ca...View the full answer
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