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A Truck Costing $72,000 and on Which $60,000 of Accumulated

Question 23

Multiple Choice

A truck costing $72,000 and on which $60,000 of accumulated depreciation has been recorded was discarded as having no value.The entry to record this event would include a


A) gain of $12,000.
B) loss of $12,000.
C) credit to Accumulated Depreciation for $60,000.
D) credit to Accumulated Depreciation for $72,000.

Correct Answer:

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