A truck costing $14,000 and on which $12,000 of accumulated depreciation has been recorded was disposed of for $3,000 cash. The entry to record this event would include a
A)loss of $1,000.
B)gain of $1,000.
C)credit to the Truck account for $3,000.
D)credit to Accumulated Depreciation for $12,000.

Question

Quizplus · Accepted Answer

The Answer of A truck costing $14,000 and on which $12,000 of accumulated depreciation has been recorded was disposed of for $3,000 cash. The entry to record this event would include a
A)loss of $1,000.
B)gain of $1,000.
C)credit to the Truck account for $3,000.
D)credit to Accumulated Depreciation for $12,000.

A Truck Costing $14,000 and on Which $12,000 of Accumulated