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A trucking company sold its fleet of trucks for $55,300. The trucks originally cost $1,421,000 and had Accumulated Depreciation of $1,272,000 recorded through the date
A trucking company sold its fleet of trucks for $55,300. The trucks originally cost $1,421,000 and had Accumulated Depreciation of $1,272,000 recorded through the date of disposal. What gain or loss did the trucking company record when it sold the fleet of trucks? Loss of $55,300. Gain of $55,300. Loss of $93,700. Gain of $93,700.
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