on January 1, 2016, North Corporation purchased a delivery truck with an expected useful life of five years, and

a salvage value of $8,000. On January 1, 2018, North sold the truck to South Corporation. South assumed the same salvage value and remaining life of three years used by North. Straight-line depreciation is used by both companies.

On January 1, 2018, North recorded the following journal entry:

DebitCredit

Cash50,000

Accumulateddepreciation18,000

Truck53,000

Gain on Sale ofTruck15,000

South holds 80% of North. North reported net income of $75,000 in 2018 and South's separate

net income (excludes interest in North) for 2018 was $110,000

In the eliminating/adjusting entries on consolidation working papers for 2018, the Truck account was

A) debited for $3,000.B) credited for $15,000

C) debited for$15,000.D) credited for $3,000.

A.debited for$3,000

B.credited for$15,000

C.debited for$15,000