FedEx is the world's leading express-distribution company. In addition to the world's largest fleet of all cargo aircraft, the company has more than 661 aircraft and 52,000 vehicles and trailers that pick up and deliver packages. Assume that FedEx 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	$	40,000
Accumulated depreciation		24,500

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.	$15,500 cash
	b.	$15,600 cash
	c.	$14,600 cash

Journal Entry Worksheet

a. Record the disposal of the truck, assuming the truck sold for $15,500 cash.

b. Record the disposal of the truck, assuming the truck sold for $15,600 cash.

c. Record the disposal of the truck, assuming the truck sold for $14,600 cash.

Transaction

General Journal

Debit

Credit

a.

*Enter debits before credits