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.
Correct Answer:
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