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A company sold a truck on 7/1/20x9 that had been purchased on 1/1/20x5 at the cost of $300,000. The asset had a salvage value of

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A company sold a truck on 7/1/20x9 that had been purchased on 1/1/20x5 at the cost of $300,000. The asset had a salvage value of $20,000, and a useful life of 7 years. Assuming straight-line depreciation, what is part of the entry to record the disposition? Debit loss on sale of truck $9,000 Debit gain on sale of truck $10,000 Debit accumulated depreciation (truck) for $180,000 Debit truck for $300,000

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