A truck that cost $72000 and on which $60000 of accumulated depreciation has been recorded was disposed of for $18000 cash. The entry to record this event would include a
A) gain of $6000.
B) loss of $6000.
C) credit to the Equipment account for $12000.
D) credit to Accumulated Depreciation for $60000.

Question

Quizplus · Accepted Answer

The Answer of A truck that cost $72000 and on which $60000 of accumulated depreciation has been recorded was disposed of for $18000 cash. The entry to record this event would include a
A) gain of $6000.
B) loss of $6000.
C) credit to the Equipment account for $12000.
D) credit to Accumulated Depreciation for $60000.

A Truck That Cost $72000 and on Which $60000 of Accumulated