E9-11 (Algo) Demonstrating the Effect of Book Value on Reporting an Asset Disposal [LO 9-5]

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VQT Companies is the worlds leading express-distribution company. In addition to its 643 aircraft, the company has more than 57,000 ground vehicles that pick up and deliver packages. Assume that VQT sold a delivery truck for $8,000. VQT had originally purchased the vehicle and recorded it in the Truck account for $14,000 and had recorded depreciation for three years.

E9-11 (Algo) Part 4

Prepare the journal entry to record the disposal of the truck, assuming Accumulated Depreciation--Truck was (a) $6,000, (b) $4,000, and (c) $9,000.