Question
on july 1, 2020, ffi sold a delivery truck for $11,200. the truck originally cost $28,000, and accumulated depreciation on the truck to december 31,
on july 1, 2020, ffi sold a delivery truck for $11,200. the truck originally cost $28,000, and accumulated depreciation on the truck to december 31, 2019, was $11,200. the truck was amortized on a straight-line basis over a five-year period, with no residual value. the sale was recorded as a debit to cash and a credit to asset additions and disposals. no amortization was recorded in the current year. account for the disposition of the delivery truck by preparing a journal entry in good form.
(Please notice that there are 5 accounts in total)
Account Titles and Explanation | Debit | Credit |
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