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Prepare the journal entry to record the disposal of truck

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Question - VQT Companies is the world's leading express-distribution company. In addition to its 643 aircraft, the company has more than 57,000 ground vehicles that pick up and deliver packages. Assume that VQT sold a delivery truck for $20,000. VQT had originally purchased the vehicle and recorded it in the Truck account for $33,000 and had recorded depreciation for three years.

Required - Prepare the journal entry to record the disposal of the truck, assuming Accumulated Depreciation--Truck was (a) $13,000, (b) $7,000, and (c) $17,000.

Reference no: EM133172394

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