Lighting Company Sold an Old Machine on December 31, 2011

question 31

Multiple Choice

Lighting Company sold an old machine on December 31, 2011, for $22,000 cash. The following data was available when the truck sold: When this transaction is recorded, it should include:

• A) debit of $7,000 to the loss on disposal account.
• B) credit of $22,000 to the truck account.
• C) credit of $7,000 to the gain on disposal account.
• D) credit of $15,000 to the gain on disposal account.

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Definitions:

Customer Value Proposition

A statement that describes why a customer should buy and use your product or service.

Advertising Revenue Model

Generating revenue by advertising products and services.

Advertising Revenue Model

A business approach where income is generated by displaying advertisements to users, typically found in media, online platforms, and broadcasting.

Online Sales

Refers to the process of selling goods and services through the internet.