Required information

[The following information applies to the questions displayed below.]

MoveIt Corporation is the worlds leading express-distribution company. In addition to its 643 aircraft, the company has more than 57,000 ground vehicles that pick up and deliver packages. Assume that MoveIt sold a delivery truck for $19,000. MoveIt had originally purchased the truck for $31,000 and had recorded depreciation for three years.

2. Using the following structure, indicate the effects (accounts, amounts, and + for increase and for decrease) of the disposal of the truck, assuming that Accumulated Depreciation was (a) $12,000, (b) $7,000, and (c) $15,000. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.)

Required information

[The following information applies to the questions displayed below.]

MoveIt Corporation is the worlds leading express-distribution company. In addition to its 643 aircraft, the company has more than 57,000 ground vehicles that pick up and deliver packages. Assume that MoveIt sold a delivery truck for $19,000. MoveIt had originally purchased the truck for $31,000 and had recorded depreciation for three years.

4. Prepare the journal entry to record the disposal of the truck, assuming that Accumulated Depreciation was (a) $12,000, (b) $7,000, and (c) $15,000. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) a. Record the sale of the truck that has an accumulated depreciation balance of $12,000 at the time of disposal. b.Record the sale of the truck that has an accumulated depreciation balance of $7,000 at the time of disposal. c. Record the sale of the truck that has an accumulated depreciation balance of $15,000 at the time of disposal.