A truck costing dollar 70, 000 has accumulated depreciation of dollar 53,000 The truck is sold for dollar 8,500 The journal entry to record this transaction is to: debit Cash for dollar 8,500. debit Truck for dollar70, 000. credit Accumulated Depreciation - Truck for dollar 53,000. and credit Gain on Disposal for dollar8,500. Debit Cash for dollar 8,500. debit Accumulated Depreciation - Truck for dollar53,000. credit Truck for dollar 70, 000, and credit Gain on Disposal for dollar 8,500. debit Cash for dollar 8,500. credit Truck for dollar 70, 000, credit Accumulated Depreciation - Truck for dollar 53,000 and credit Gain on Disposal for dollar 25,500. debit Accumulated Depredation - Truck for dollar 53,000. and credit Truck for dollar 53,000