Prepare the appropriate journal entry to record

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Reference no: EM133265183

Case: Gagne Company sold a delivery truck for $11,000. The delivery truck originally cost $25,000 in 1998 and $6,000 was spent on a major overhaul in 2001 (charged to Delivery Truck account). Accumulated Amortization on the delivery truck to the date of disposal was $20,000.

Prepare the appropriate journal entry to record the disposition of the delivery truck.

Crenshaw Company sold office equipment that had a net book value of $4,500 for $6,000. The office equipment originally cost $15,000 and it is estimated that it would cost $19,000 to replace the office equipment.

Question: Prepare the appropriate journal entry to record the disposition of the office equipment

Reference no: EM133265183

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