Top Flight Airways purchased a baggage-handling truck for $51 ,000. Suppose Top Flight Airways sold the truck
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Top Flight Airways purchased a baggage-handling truck for $51 ,000. Suppose Top Flight Airways sold the truck on December 31, 2012, for $34,000 cash, after using the truck for three full years and accumulating depreciation of $20,000. Make the journal entry to record Top Flight Airways’ sale of the truck.
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Journal DATE ACCOUNTS POST REF Dr Cr 2012 Dec 31 Cash 34000 Accumulated Depreciation Truc...View the full answer
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