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On July 1, 2023, Waterway's Greenhouse purchased a new delivery truck for $77,000. She paid $20,000 cash and signed a promissory note for the
On July 1, 2023, Waterway's Greenhouse purchased a new delivery truck for $77,000. She paid $20,000 cash and signed a promissory note for the remainder. Waterway estimates that the delivery truck will have a five-year useful life, or 175,000 kilometres and a residual value of $7,000. Waterway's Greenhouse has a December 31 year end. Calculate the gain or loss on disposal for the following three independent situations: Waterway sold the truck for $30.250 on January 1, 2027. Use the straight-line method. on disposal $ List of Accounts Waterway sold the truck for $22,000 on January 1, 2027. Use the straight-line method. on disposal $ List of Accounts
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