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A Truck Cost $55,000 and Had Accumulated Depreciation of $45,000

Question 70

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A truck cost $55,000 and had accumulated depreciation of $45,000 when it was sold for cash at a gain of $5,000.Proceeds from the sale of the truck are 1.$________ and are 2.a(n)________ activity.

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1.$15,000,...

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