Carolina Truck Lines purchased a truck at a cost of $22,000 five years ago.As of January 1 of the current year,depreciation of $18,000 had been recorded on this asset.Depreciation expense for the current year is $2,000.Before the adjustments are recorded and posted at December 31 of the current year,what is the truck's book value?
A) $2,000
B) $4,000
C) $18,000
D) $22,000
Correct Answer:
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