Using the straight-line method-estimated salvage value

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Reference no: EM13777557

On September 1, 2013, Algernon Company sold a truck for $15,000 cash. The truck was originally purchased for $40,000, had an estimated salvage value of $4,000 and an estimated life of 6 years. Algernon had recorded depreciation through the end of 2012 using the straight-line method. Make all the journal entries to record Algernon's sale of the truck

Reference no: EM13777557

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