FedEx is the worlds leading express-distribution company. In addition to the worlds largest fleet of allcargo aircraft,
Question:
Delivery truck cost ..... $38,000
Accumulated depreciation . 23,000
Required:
1. Give the journal entry for the disposal of the truck, assuming that the truck sold for
a. $15,000 cash
b. $15,600 cash
c. $14,600 cash
2. Based on the three preceding situations, explain the effects of the disposal of an asset.
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Step by Step Answer:
1 a Cash A 15000 Accumulated depreciation XA A 23000 Delivery truck A 38000 Sale of an asset at book ...View the full answer
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