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Make journal entries to record the assume truck was retired

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Question 1: A truck that cost $15,000 and had $10,000 of accumulated depreciation was disposed of on January 1, 2017. Make the journal entries to record the following:

A. Assume the truck was retired as having no value

B. Assume the truck was sold for $7,500 cash.

Reference no: EM132538132

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