E8-16 (Algo) Recording the Disposal of an Asset at Three Different Sale Prices LO8-5 Fast Delivery is the world's largest express transportation company. In addition to the world's largest fleet of all-cargo aircraft, the company has more than 663 aircraft and 61,000 vehicles and trailers that pick up and deliver packages. Assume that Fast Delivery sold a delivery truck that had been used in the business for three years. The records of the company reflected the following: Delivery truck cost Accumulated depreciation $ 55,000 40,000 Required: 1. Prepare the journal entry for the disposal of the truck, assuming that the truck sold for: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. $15,000 cash b. $17,600 cash c. $13,200 cash