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JoBo Corp sold a truck that had a purchase price of $40,000 and total accumulated depreciation of $12,000, for $26,000 cash. To record this
JoBo Corp sold a truck that had a purchase price of $40,000 and total accumulated depreciation of $12,000, for $26,000 cash. To record this transaction, JoBo should record Select one: OA credit to loss on sale for $2,000 A credit to accumulated depreciation for $12,000 A credit to truck (i.e. equipment) for $28,000 OA debit to truck (i.e. equipment) for $40,000 COA debit to loss on sale for $2,000
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