Lightning Delivery, Inc

Multiple Choice

Lightning Delivery, Inc.purchased a truck on January 1, 2013, for $30,000.The truck had an estimated life of 5 years and an estimated residual value of $5,000.Lightning Delivery used the straight-line method to depreciate the asset.On July 1, 2015, the truck was sold for $17,000 cash.The journal entry to record the sale of the truck in 2015

A) decreases stockholder's equity
B) increases total assets
C) decreases total expenses
D) increases net income