Question

A truck costing $12,000, which has Accumulated Depreciation of $9,000, was sold for $2,000 cash. The entry to record this event would include a:

A) gain of $1,000.

B) loss of $1,000.

C) credit to the Vehicles account for $3,000.

D) credit to Accumulated Depreciation for $9,000.

Answer

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