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Required information [The following information applies to the questions displayed below.] Movelt Corporation is the world's leading express-distribution company. In addition to its 643 aircraft,
Required information [The following information applies to the questions displayed below.] Movelt Corporation is the world's 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 Movelt sold a delivery truck for $22,000. Movelt had originally purchased the truck for $37,000 and had recorded depreciation for three years. Required: 1. Calculate the amount of gain or loss on disposal, assuming that Accumulated Depreciation was (a) $15,000, (b) $13,000, and (c) $21,000. (Select "None" if there is no Gain or Loss.) Gain/Loss Amount a. b. . 1 Record the sale of the truck that has an accumulated depreciation balance of $15,000 at the time of disposal 2 Record the sale of the truck that has an accumulated depreciation balance of $13,000 at the time of disposal. 3 Record the sale of the truck that has an accumulated depreciation balance of $21,000 at the time of disposal
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