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Macho Taco sold a food truck on March 1, 2017. The accounts showed adjusted balances on February 28, 2017, as follows: Food Truck $ 61,000

Macho Taco sold a food truck on March 1, 2017. The accounts showed adjusted balances on February 28, 2017, as follows:

Food Truck $ 61,000
Accumulated Depreciation, Food Truck 37,050

Required: Record the sale of the food truck assuming the cash proceeds were: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

a. $ 23,950 b. $ 31,100 c. $ 21,100 d. $ 0 (the food truck was scrapped).

  • 1

    Record the sale of the van for $23,950.

  • 2

    Record the sale of the van for $31,100.

  • 3

    Record the sale of the van for $21,100.

  • 4

    Record the sale of the van for $0; it was scrapped.

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