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A Truck Costing $12,000,which Has Accumulated Depreciation of $9,000,was Sold

Question 58

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A truck costing $12,000,which has Accumulated Depreciation of $9,000,was sold for $2,000 cash.The entry to record this event would include a:


A) gain of $1,000.
B) loss of $1,000.
C) credit to the Vehicles account for $3,000.
D) credit to Accumulated Depreciation for $9,000.

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