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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 $ 50,000
Macho Taco sold a food truck on March 1, 2017. The accounts showed adjusted balances on February 28, 2017, as follows:
Food Truck | $ | 50,000 |
Accumulated Depreciation, Food Truck | 28,250 | |
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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. | $ | 21,750 | b. | $ | 25,600 | c. | $ | 20,000 | d. | $ | 0 (the food truck was scrapped). |
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