Multiple Choice
A truck that cost $84,000 and on which $70,000 of accumulated depreciation has been recorded was disposed of for $21,000 cash. The entry to record this event would include a
A) gain of $7,000.
B) loss of $7,000.
C) credit to the Truck account for $14,000.
D) credit to Accumulated Depreciation for $70,000.
Correct Answer:
Verified
Correct Answer:
Verified
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