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Home Q & A Board Other Fields Homework Help Business Accounting
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bravata bravata
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7 years ago
A truck costing $56,000 has accumulated depreciation of $50,000. The truck is scrapped for $0. The journal entry to record this transaction is to:
A) debit Truck for $50,000, debit Loss on Disposal for $6,000 and credit Accumulated Depreciation – Truck for $56,000.
B) debit Accumulated Depreciation – Truck for $50,000, and credit Truck for $50,000.
C) debit Accumulated Depreciation – Truck for $50,000, debit Loss on Disposal $6,000, and credit Truck for $56,000.
D) debit Truck for $56,000, credit Accumulated Depreciation – Truck for $50,000 and credit Gain on Disposal for $6,000.
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Financial Accounting

Financial Accounting


Edition: 3rd
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largerthanlifelargerthanlife
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7 years ago
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bravata Author
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7 years ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
Loruiz15
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Yesterday
Thanks
mikey3091
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2 hours ago
You make an excellent tutor!
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