Question
Required information [ The following information applies to the questions displayed below .] Nomad Industries is the worlds leading express-distribution company. In addition to its
Required information
[The following information applies to the questions displayed below.]
Nomad Industries 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 Nomad sold a delivery truck for $15,000. Nomad had originally purchased the vehicle and recorded it in the Truck account for $25,000 and had recorded depreciation for three years.
Prepare the journal entry to record the disposal of the truck, assuming Accumulated Depreciation--Truck was (a) $10,000, (b) $9,000, and (c) $14,000. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
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