June $22$

Traded the old company truck for a new truck, issuing check number $30565$ to Dobbins Commercial Truck Sales and Repairs. The cost of the old truck is $$10,000$ and on March $31,$ the end of the previous quarter, it had depreciated $$7,530($at $$60$ per month$).$ The new truck has a list price of $$14,000$ and a trade$-$in allowance of $$2,800$ was given for the old truck. This trade has no commercial and no gain or loss will be recognized on this transaction.

First, record the depreciation, to date, on the old truck. Straight$-$line depreciation is $$60$ per month. At the invoice prompt and the Overhead prompt enter DEPRE.

Second, record the trade$-$in$.$ At the invoice prompt enter D$6734.$