Multiple Choice
A trucking company sold its fleet of trucks for $55,000.The trucks originally cost $1,410,000 and had Accumulated Depreciation of $1,269,000 recorded through the date of disposal.What gain or loss did the trucking company record when it sold the fleet of trucks?
A) Gain of $86,000.
B) Gain of $55,000.
C) Loss of $55,000.
D) Loss of $86,000.
Correct Answer:
Verified
Correct Answer:
Verified
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