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M & Co. sells a truck which cost 60,000 for 15,000. The truck was purchased on 1.7.2005. Depreciation was charged on straight line method at
M & Co. sells a truck which cost 60,000 for 15,000. The truck was purchased on 1.7.2005. Depreciation was charged on straight line method at the rate of 10%. The truck was sold on 1.7.2009. Pass the journal entry which arises on the date of sale.
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