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What would the amount of the gain or loss

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Question - A truck which cost $30,000 and on which $22,000 of accumulated depreciation had been recorded was disposed of on January 3. What would the amount of the gain or loss and the journal entry necessary to record the disposal be under each of the following independent assumptions:

A. It was scrapped for no value

B. It was sold for $12,000.

C. It was sold for $7,500.

Reference no: EM132925094

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