7. What effect (increase/decreaseo effect) does depreciation have on each of the following? a. Cash b. Non-cash assets c. Liabilities d. Contributed capital e. Retained earnings 8. Bold City owns a truck with a historical cost of 67,000 and Accumulated Depreciation of 61,000. Record the disposal entries if: a. Bold City sells the truck for $8,000 cash. b. The truck is completely worthless and is scrapped for $0. c. Bold City trades the delivery truck in toward the purchase of a new truck that costs $78,000. Bold City is granted a trade-in allowance of $9,500 and pays for the difference in cash