MoveIt Corporation is the worlds leading express-distribution company. In addition to its 643 aircraft, the company has more than 57,000 ground vehicles that pick up and deliver packages. Assume that MoveIt sold a delivery truck for $14,000. MoveIt had originally purchased the truck for $23,000 and had recorded depreciation for three years.

Prepare the journal entry to record the disposal of the truck, assuming that Accumulated Depreciation was (a) $9,000, (b)$7,000, and (c) $15,000.

Journal Entry 1:

• Record the sale of the truck that has an accumulated depreciation balance of $9,000 at the time of disposal.

Journal Entry 2:

• Record the sale of the truck that has an accumulated depreciation balance of $7,000 at the time of disposal.

Journal Entry 3:

• Record the sale of the truck that has an accumulated depreciation balance of $15,000 at the time of disposal.