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Chris purchased a truck with a cost of 100,000 in 2015 with a useful life of 5 years and a salvage value of 20,000. The
Chris purchased a truck with a cost of 100,000 in 2015 with a useful life of 5 years and a salvage value of 20,000. The truck was destroyed in 2020 and cannot be recovered. Using the straight-line method and accelerated method create a journal entry to record the disposal of this asset.
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