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Prepare a journal entry for selling

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Question - For This Discussion - Assets may be discarded, sold, or exchanged due to wear and tear, obsolescence, inadequacy, or damage by fire or other accident.

-Prepare a journal entry for discarding a truck that was purchased for 25,000. The accumulated depreciation to date is 20,000.

-Prepare a journal entry for selling for 15,000 a truck that was purchased for 25,000. The accumulated depreciation to date is 20,000.

-Prepare a journal entry for selling for 2,000 a truck that was purchased for 25,000. The accumulated depreciation to date is 20,000.

Reference no: EM133053239

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