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If a County Receives $27,000, for the Sale of a Dump

Question 47

Short Answer

If a county receives $27,000, for the sale of a dump truck with a historical cost of $60,000, and accumulated depreciation of $25,000, the one-worksheet conversion adjustment would be \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad  Debit  Credit \begin{array}{lrr}&\text { Debit } & \text { Credit }\end{array}
A)
 Other Financing Source - Sale of Vehicle 27,000 Accumulated Depreciation - Vehicle 25,000 Loss on sale of vehicle 8,000 Vehicle 60,000\begin{array}{lrr} \text { Other Financing Source - Sale of Vehicle } & 27,000 & \\\text { Accumulated Depreciation - Vehicle } & 25,000 & \\\text { Loss on sale of vehicle }&8,000 \\\text { Vehicle }&&60,000\end{array}

B)
 Other Financing Source - Sale of Vehicle 27,000 Vehicle 27,000\begin{array}{lrr} \text { Other Financing Source - Sale of Vehicle }& 27,000 \\\text { Vehicle } & &27,000\\\end{array}

C)
 Other Financing Source - Sale of Vehicle 27,000 Accumulated Depreciation - Vehicle 33,000 Vehicle 60,000\begin{array}{lrr}\text { Other Financing Source - Sale of Vehicle } & 27,000 & \\\text { Accumulated Depreciation - Vehicle } & 33,000 & \\\quad \text { Vehicle } & & 60,000 \\\end{array}

D)
 Other Financing Source - Sale of Vehicle 27,000 Loss on sale of vehicle 33,000 Vehicle 60,000\begin{array}{lrr} \text { Other Financing Source - Sale of Vehicle } & 27,000 & \\\text { Loss on sale of vehicle } & 33,000 & \\\quad \text { Vehicle } & & 60,000 \\\end{array}

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