Overland Trucking has an old truck that cost $30,000, and it has accumulated depreciation of $16,000 on

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Overland Trucking has an old truck that cost $30,000, and it has accumulated depreciation of $16,000 on this truck. Overland has decided to sell the truck.

(a) What entry would Overland Trucking make to record the sale of the truck for $17,000 cash?

(b) What entry would Overland Trucking make to record the sale of the truck for $10,000 cash?

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Accounting Tools For Business Decision Making

ISBN: 9780470377857

3rd Edition

Authors: Paul D. Kimmel

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Question Posted: Feb 11, 2024 03:00 AM

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Overland Trucking has an old truck that cost $30,000, and it has accumulated depreciation of $16,000 on

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a Sale of truck for cash at a gain Cash Accumulated Depreciation Equipment E...View the full answer

Accounting Tools For Business Decision Making

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