Job Sales Sold a Truck in Exchange for $1,000 Cash $$\begin{array} { | l | l | l | } \hline \quad\quad& \quad&\quad \\\hline & & \\\hline & & \\\hline & & \\\hline & & \\\hline\end{array}$$

question 22

Essay

Job Sales sold a truck in exchange for $1,000 cash plus a forklift.The truck was originally purchased for $36,000,and had accumulated depreciation of $30,000 at the time it was sold.The forklift was valued at $4,000.Please provide the journal entry for this transaction.
$$\begin{array} { | l | l | l | } \hline \quad\quad& \quad&\quad \\\hline & & \\\hline & & \\\hline & & \\\hline & & \\\hline\end{array}$$

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Definitions:

Indifference Curves

Graphs that represent various combinations of goods that give a consumer equal utility or satisfaction.

Wealth

The abundance of valuable resources, assets, or properties that an individual or entity possesses.

Expected Utility Function

An expected utility function quantifies an individual's preferences under uncertainty, ranking them according to the expected level of satisfaction or utility.

Sure Payment

A guaranteed or fixed payment that is certain to be paid, without any risk or fluctuation.