8. Smash-n-Crash Transportation Company sold an old truck on December 31, 2007, for $18,400 cash. The following data was available when the truck sold:
Acquisition cost $75,000
Estimated residual value at time of acquisition 8,000
Accumulated depreciation on December 31, 2007 after adjustment 53,600
When this transaction is recorded, it should include a
a. debit of $3,000 to Loss on Disposal.
b. credit of $21,400 to the Truck account.
c. credit of $3,000 to Gain on Disposal.
d. credit of $5,000 to Gain on Disposal.
please tell me the answer and brifely explain why....thank you!!
2007-03-12
07:37:23
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1 answers
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Mary has a little lamb
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