Lucky Company purchased a truck at a cost of $12,000 in 2011.As of January 1, 2016, depreciation of $10,000 had been recorded on this asset.Depreciation expense for 2016 is $2,000.After the adjustments are recorded and posted at December 31, 2016, what is the carrying value of the truck?
A) $2,000
B) $5,500
C) $12,000
D) $0
Correct Answer:
Verified
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