A Truck Costing $12,000 and on Which $9,000 of Accumulated

question 120

Multiple Choice

A truck costing $12,000 and on which $9,000 of accumulated depreciation has been recorded was disposed of for $2,000 cash.The entry to record this event would include a:

• A)gain of $1,000.
• B)loss of $1,000.
• C)credit to the Truck account for $3,000.
• D)credit to Accumulated depreciation for $9,000.