MoveIt Corporation is the worlds leading express-distribution company. In addition to the worlds largest fleet of all-cargo aircraft, the company has more than 54,000 ground vehicles that pick up and deliver packages. Assume that MoveIt sold a delivery truck for $17,000. MoveIt had originally purchased the truck for $29,000 and had recorded depreciation for three years.

Calculate the amount of gain or loss on disposal, assuming that Accumulated Depreciation was (a) $12,000, (b) $8,000, and (c) $14,000. (Select "None" if there is no Gain or Loss.)

Using the following structure, indicate the effects on disposal of the truck, assuming that Accumulated Depreciation was (a) $12,000, (b) $8,000, and (c) $14,000. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.)

Assets = liabilities + stockholder's equity

Prepare the journal entry to record the disposal of the truck, assuming that Accumulated Depreciation was (a) $12,000, (b) $8,000, and (c) $14,000. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)