A truck that cost $80,000 and on which $60,000 of accumulated depreciation had been recorded was disposed of on July 1,the first day of the new fiscal year.Prepare entries in journal form (without explanation)to record the disposal under each of the following assumptions:
a.It was discarded as having no value.
b.It was sold for $14,400 cash.
c.It was sold for $27,000 cash.

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The Answer of A truck that cost $80,000 and on which $60,000 of accumulated depreciation had been recorded was disposed of on July 1,the first day of the new fiscal year.Prepare entries in journal form (without explanation)to record the disposal under each of the following assumptions:
a.It was discarded as having no value.
b.It was sold for $14,400 cash.
c.It was sold for $27,000 cash.

A Truck That Cost $80,000 and on Which $60,000 of Accumulated