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Question 16 A truck cost $60,000 when purchased and has a $55,000 balance in the accumulated depreciation account. If the truck is discarded we will

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Question 16 A truck cost $60,000 when purchased and has a $55,000 balance in the accumulated depreciation account. If the truck is discarded we will record: loss on disposal, $5,000 O gain on disposal, $5,000 no gain or loss because it was discarded loss of $60,000 Previous Nex

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