Prepare the journal entry of selling the assets (make the entries of removing the assets form the company's books, receiving the cash, and the gain/loss associated with selling) 4. Slaton Corporation traded a used truck for cash. The used truck cost 20,000 and has accumulated depreciation of 17,000. The cash amount is 35,000. Slaton also made a cash payment of 10,000 as expense to complete the trade.