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A truck costing $13,200, which has Accumulated Depreciation of $9,120, was sold for $2,120 cash. The entry to record this event would include a: credit
| A truck costing $13,200, which has Accumulated Depreciation of $9,120, was sold for $2,120 cash. The entry to record this event would include a: |
credit to the Vehicles account for $4,080.
credit to Accumulated Depreciation for $9,120.loss of $1,960.
gain of $1,960.
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Management Accounting
Authors: Kim Langfield Smith, Helen Thorne, David Alan Smith, Ronald W. Hilton
7th Edition
978-1760421144, 1760421146
