Orbit Airways purchased a baggage-handling truck for $41,000. Suppose Orbit Airways sold the truck on December 31,2010,

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Orbit Airways purchased a baggage-handling truck for $41,000. Suppose Orbit Airways sold the truck on December 31,2010, for $28,000 cash, after using the truck for two full years and accumulating depreciation of $16,000. Make the journal entry to record Orbit Airways’ sale of the truck.

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Financial Accounting

ISBN: 9780136060482

1st Edition

Authors: Jeffrey Waybright, Robert Kemp

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