A truck costing $15,000 and on which $14,000 of accumulated depreciation has been recorded was discarded as having no value. The entry to record this event would include a
A) gain of $1,000.
B) loss of $1,000.
C) credit to Accumulated Depreciation for $14,000.
D) credit to Equipment for $1,000.

Question

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The Answer of A truck costing $15,000 and on which $14,000 of accumulated depreciation has been recorded was discarded as having no value. The entry to record this event would include a
A) gain of $1,000.
B) loss of $1,000.
C) credit to Accumulated Depreciation for $14,000.
D) credit to Equipment for $1,000.

A Truck Costing $15,000 and on Which $14,000 of Accumulated