Assumption: On December 31,XXX0,JJJ Company sold an old truck for $17,000 cash. The accumulated depreciation of this truck was $16,000. The original cost of the truck was $30,000. Actions to take: 1. Calculate the book value of the asset at the time of disposal. 2. Compare the asset book value with the proceeds received to determine whether is a gain or loss. 3. Prepare the Journal Entries to record the sale. Disposal = disposicion Proceeds = producto, ganancia