On July 1, 2017 a truck was sold for $10,000. The company originally paid $28,000 on June 30, 2010 and has recorded accumulated depreciation on it to date of $15,000. The entry to record the sale would include a
A) credit to accumulated depreciation for $15,000.
B) debit to trucks for $28,000.
C) credit to gain on sale of truck for $3,000.
D) debit to loss on sale of truck for $3,000.
Correct Answer:
Verified
Q50: Electronics R Us spent $25,000 on research
Q50: Changes in the estimates for residual value
Q51: An asset that cost $16,200 with a
Q56: Water Company purchased a bottling machine on
Q59: The depreciation expense of an asset can
Q64: Long-term capital assets with a(n)_ may not
Q72: Which of the following methods of amortization
Q74: Which of the following is an example
Q75: Harmax Limited spent $5,000 registering an internally
Q78: An asset with an original cost of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents