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A truck costing $30,000 and on which $28,000 of accumulated depreciation has been re-corded was discarded as having no value. The entry to record
A truck costing $30,000 and on which $28,000 of accumulated depreciation has been re-corded was discarded as having no value. The entry to record this event would include a 1) credit to Accumulated Depreciation for $30,000. 2) gain of $2,000. 3) credit to Accumulated Depreciation for $28,000. 4) loss of $2,000.
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