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Fast Delivery is the worlds largest express transportation company. In addition to the worlds largest fleet of all-cargo aircraft, the company has more than 674
Fast Delivery is the worlds largest express transportation company. In addition to the worlds largest fleet of all-cargo aircraft, the company has more than 674 aircraft and 54,000 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:
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 674 aircraft and 54,000 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 $51, 000 36, 100 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. $14,900 cash b. $17,400 cash c. $13,600 cash View transaction list Journal entry worksheet 2 3 Record the disposal of the truck, assuming the truck was sold for $14,900 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the disposal of the truck, assuming that the truck was sold for $17,400 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheetStep by Step Solution
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