A Truck Costing $56,000 Has Accumulated Depreciation of $50,000

Multiple Choice

A truck costing $56,000 has accumulated depreciation of $50,000.The truck is sold for $8,500.The journal entry to record this transaction is to:

A) debit Cash for $8,500,debit Accumulated Depreciation - Truck for $50,000,credit Truck for $56,000,and credit Gain on Disposal for $2,500.
B) debit Accumulated Depreciation - Truck for $50,000,and credit Truck for $50,000.
C) debit Cash for $8,500,debit Truck for $56,000,credit Accumulated Depreciation - Truck for $50,000 and credit Gain on Disposal for $14,500.
D) debit Cash for $2,500,debit Truck for $56,000,credit Accumulated Depreciation - Truck for $50,000,and credit Gain on Disposal for $8,500.