FGH Company needs a truck and a trailer to use in the business. The truck they want normally sells for $30,000 and the trailer they want normally sells for $10,000. Because they bought the truck and trailer together, the seller charged FGH only $32,000 for the two assets. FGH paid cash on January 1, 2018. FGH expects to use the truck for 5 years before buying a replacement. FGH estimates that at the end of the 5 years, they will be able to sell the used truck for $10,000. FGH plans to use the trailer until it no longer functions, which FGH estimates will be after about 8 years of use. At that point, they don't expect to need a trailer any more. Which of the following entries should FGH make on 1/1/18 to record the purchase of these two assets? A Cash Truck & Trailer Decrease Increase $32,000 $ 32,000 . Cash Truck Trailer Decrease Increase Increase $ 32,000 $ 30,000 $ 10,000 C. Cash Truck Trailer Decrease Increase Increase $ 40,000 $ 30,000 $ 10,000 D Cash Truck Trailer Gain on Equipment Purchase Decrease Increase Increase Increase $ 32,000 $ 30,000 $ 10,000 $ 8,000 E Cash Truck Trailer Decrease Increase Increase $ 32,000 $ 30,000 $ 2,000 D Cash Truck Trailer Gain on Equipment Purchase Decrease Increase Increase Increase $ 32,000 $ 30,000 $ 10,000 $ 8,000 E Cash Truck Trailer Decrease Increase Increase $ 32,000 $ 30,000 $ 2,000 F Cash Truck Trailer Decrease Increase Increase $32,000 $ 22,000 $ 10,000 G. Cash Truck Trailer Decrease Increase Increase $ 32,000 $ 24,000 $ 8,000 Refer to the "OLA - Chapter 6 Question Information" posted in D2L. In Part 1, you were asked to think about what you learned in the early chapters about recording the purchase of assets such as Land or Supplies, and select the letter that matched what you thought was the correct entry to be made in the situation described Here in Part 2 I will tell you that letter A is not correct. Knowing that, select from the remaining letters the one you now think shows the correct entry to be made in the situation described. (if you did not pick letter A in Part 1, you can either pick the same answer you did before or change your answer, whichever you prefer.) Multiple Choice A This one is NOT correct so do not choose it Prey 1 of 1 Next