Multiple Choice
Greetings Online disposed of a van that cost $22,000 with accumulated depreciation of $15,000.The journal entry would be to:
A) debit Accumulated Depreciation $15,000; credit Van $15,000.
B) debit Accumulated Depreciation $15,000; debit Depreciation Expense $7,000; credit Van $22,000.
C) debit Loss Disposal of Plant Asset $7,000; debit Accumulated Depreciation $15,000; credit Van $22,000.
D) None of these answers are correct.
Correct Answer:
Verified
Correct Answer:
Verified
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