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16. On December 31, 2017, Akron Corporation sold a sold a delivery truck for $9,000 cash. The truck cost $25,000 when it was purchased on
16. On December 31, 2017, Akron Corporation sold a sold a delivery truck for $9,000 cash. The truck cost $25,000 when it was purchased on January 1, 2014, and was depreciated based on a 5 year useful life with a $4,000 salvage value. Akron uses the straight-line method to depreciate its plant assets. Prepare the necessary journal entries on December 31, 2017 to bring depreciation up to date, and to record the sale of the truck
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