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On July 1, 20X0, FEDWHY Sold a Truck for $10,000

Question 88

Multiple Choice

On July 1, 20X0, FEDWHY sold a truck for $10,000. The company originally paid $28,000 on June 30, 20X7 and has recorded accumulated depreciation on it to date of $15,000. The entry to record the sale would include a:


A) debit to trucks for $28,000
B) credit to accumulated depreciation for $15,000.
C) credit to gain on sale of truck for $3,000.
D) debit to loss on sale of truck for $3,000.

Correct Answer:

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