1.A truck cost $60,000 when purchased and has a $60,000 balance in the accumulated depreciation account. If the truck is discarded we will record:

Group of answer choices

debit to truck, $60,000

credit to accumulated depreciation, $60,000

credit to truck, $60,000

loss on disposal, $60,000

2.Long-term tangible assets used in the business are:

Group of answer choices

intangible assets

plant assets

long-term investments

inventory