9 On January, 31, 2016, Apple Corp sold a truck that originally cost $20,000, and had accumulated depreciation of $19,000 Apple Corp retired the truck How much gain or loss did Apple Corp recognize on the transaction Where (debit or credit) do you report it A Gain $1,000 (Debit) B Loss $1,000 (Debit) C Gain $1,000 (Credit) D Loss $1,000(Credit) 10 On January, 31, 2016, Apple Corp sold a machine that originally cost $70,000 and had accumulated depreciation of $60,000 Apple Corp received $4,000 from the sale How much gain or loss did Apple Corp recognize on the sale A Gain $6,000 (Debit) B Loss $6,000 (Debit) C Gain $6,000 (Credit) D Loss $6,000 (Credit)

Question

9  On January, 31, 2016, Apple Corp  sold a truck that originally cost $20,000, and had accumulated depreciation of $19,000  Apple Corp  retired the truck  How much gain or loss did Apple Corp recognize on the transaction  Where (debit or credit) do you report it  A  Gain $1,000 (Debit) B  Loss $1,000 (Debit) C  Gain $1,000 (Credit) D  Loss $1,000(Credit) 10  On January, 31, 2016, Apple Corp  sold a machine that originally cost $70,000 and had accumulated depreciation of $60,000  Apple Corp  received $4,000 from the sale  How much gain or loss did Apple Corp  recognize on the sale  A  Gain $6,000 (Debit) B  Loss $6,000 (Debit) C  Gain $6,000 (Credit) D  Loss $6,000 (Credit)

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9. On January, 31, 2016, Apple Corp. sold a truck that originally cost $20,000, and had accumulated depreciation of $19,000. Apple Corp. retired the truck.

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