FedEx is the worlds largest express transportation company. In addition to the worlds largest fleet of all-cargo aircraft, the company has more than 671 aircraft and 62,000 vehicles and trailers that pick up and deliver packages. Assume the company sold a delivery truck that had been used in the business for three years. The delivery truck cost $50,000 and on the date of the sale, the company had recorded $34,600 in accumulated depreciation.

Required: 1. Prepare the journal entry for the disposal of the truck, assuming that the truck sold for

a. $15,400 cash

b. $16,600 cash

c. $14,200 cash