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Prepare the appropriate journal entry to record disposition

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Reference no: EM132935201

Gagne Company sold a delivery truck for $14,000. The delivery truck originally cost $26,000 in 2021 and $4,000 was spent on a major overhaul in 2027 (charged to Delivery Truck account). Accumulated Depreciation on the delivery truck to the date of disposal was $16,000.

Problem 1: Prepare the appropriate journal entry to record the disposition of the delivery truck.

Reference no: EM132935201

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