Multiple Choice
A truck that cost $12,000 and on which $9,000 of accumulated depreciation has been recorded was disposed of 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 Truck account for $3,000.
D) credit to Accumulated depreciation for $9,000.
Correct Answer:
Verified
Correct Answer:
Verified
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