broadwaypoetry broadwaypoetry
  • 16-09-2022
  • Mathematics
contestada

A truck costing $56,000 has accumulated depreciation of $50,000. The truck is sold for $8,500. What is the journal entry for this transaction?

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kalaafineaf16
kalaafineaf16 kalaafineaf16
  • 16-09-2022
14500 !!!!!!!!!!!!!!!!!
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dianamayen80 dianamayen80
  • 16-09-2022

Answer: debit Cash for​ $8,500, debit Accumulated Depreciation− Truck for​ $50,000, credit Truck for​ $56,000, and credit Gain on Disposal for​ $2,500.

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