Multiple Choice
A truck costing $14,000 and on which $12,000 of accumulated depreciation has been recorded was disposed of for $3,000 cash. The entry to record this event would include a
A) loss of $1,000.
B) gain of $1,000.
C) credit to the Truck account for $3,000.
D) credit to Accumulated Depreciation for $12,000.
Correct Answer:
Verified
Correct Answer:
Verified
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