Question
A truck that cost $15,000 and had $10,000 of accumulated depreciation was disposed of on January 1, 2016. Make the entries in correct form to
A truck that cost $15,000 and had $10,000 of accumulated depreciation was disposed of on January 1, 2016. Make the entries in correct form to record the following:
a. Assume the truck was discarded as having no value.
b. Assume the truck was sold for $1,000 cash.
c. Assume the truck was sold for $7,500 cash.
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Financial Accounting For Decision Makers
Authors: DeFond, Mark
3rd Edition
1618534432, 9781618534439
