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 $27,000. MoveIt had originally purchased the vehicle and recorded it in the Truck account for $45,000 and had recorded depreciation for three years.

1. Calculate the amount of gain or loss on disposal, assuming that Accumulated DepreciationTruck was (a) $18,000, (b) $12,000, and (c) $21,000. (Select "None" if there is no Gain or Loss.)

2. Using the following structure, indicate the effects (accounts, amounts, and + for increase and for decrease) of the disposal of the truck, assuming Accumulated DepreciationTruck was (a) $18,000, (b) $12,000, and (c) $21,000. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.)

4. Prepare the journal entry to record the disposal of the truck, assuming Accumulated Depreciation--Truck was (a) $18,000, (b) $12,000, and (c) $21,000. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Gain/Loss Amount (a) (b) (c) Liabilities Stockholders' Equity 10000 Journal entry worksheet Record the sale of the truck that has an accumulated depreciation balance of $18,000 at the time of disposal. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general Journal Journal entry worksheet 1 2 3 Record the sale of the truck that has an accumulated depreciation balance of $12,000 at the time of disposal. Note: Enter debits before credits. Transaction General Journal Debit Credit b Record entry Clear entry View general Journal Journal entry worksheet