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Boalsburg Co

Question 110

Multiple Choice

Boalsburg Co.purchased a truck on January 1,2015,for $30,000.The truck had an estimated life of five years and an estimated residual value of $5,000.Boalsburg used the straight-line method to depreciate the asset.On July 1,2017,the truck was sold for $17,000 cash.The journal entry to record the sale of the truck in 2017


A) increases net income.
B) increases total assets.
C) decreases total expenses.
D) decreases stockholders' equity.

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