27 Old truck sold, original cost was $25,000, and accumulated 12,000 depreciation on Dec. 31, 2015 was $15,000. Annual depreciation is $5,000, Sale price is $12,000. A check for $12,000 was received and deposited. Hint: compute and record full year of depreciation on truck before you record the sale. No sales tax is collected on this sale. The buyer pays it directly to the state when registering the vehicle