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Movelt Corporation is the world's leading express-distribution company. In addition to its 643 aircraft, the company has more than 57,000 ground vehicles that pick
Movelt Corporation is the world's 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 Movelt sold a delivery truck for $6,000. Movelt had originally purchased the vehicle and recorded it in the Truck account for $10,000 and had recorded depreciation for three years. E9-11 (Algo) Part 1 Required: 1. Calculate the aniount of gain or loss on disposal, assuming that Accumulated Depreciation-Truck was (a) $4,000, (b) $3,000, and (c) $5,000. (Select "Nore" if there is no Gain or Loss.) Gain/Loss Amount (a) None (b) Loss (c) Gain
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