Business, 01.08.2020 02:01 angsoccer02

ABO purchased a truck at the beginning of 2018 for $140,000. They sold the truck at the end of 2019 for $95,000. If the expected useful life of the truck was six years with a residual value of $20,000 and ABO uses straight-line depreciation, which of the following is true regarding the entry to record the sale of the truck? A. Credit Gain $5,000
B. Debit Loss $5,000.
C. Credit Accumulated Depreciation $40,000.
D. Credit Equipment $100.000.

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ABO purchased a truck at the beginning of 2018 for $140,000. They sold the truck at the end of 2019...

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