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A trucking company sold its fleet of trucks for $56,700. The trucks originally cost $1,491,000 and had Accumulated Depreciation of $1,286,000 recorded through the date
A trucking company sold its fleet of trucks for $56,700. The trucks originally cost $1,491,000 and had Accumulated Depreciation of $1,286,000 recorded through the date of disposal. What gain or loss did the trucking company record when it sold the fleet of trucks?
- Gain of $56,700.
- Loss of $148,300.
- Loss of $56,700.
- Gain of $148,300.
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