He sold the truck with a registered value of 900.000 ₺ in operating assets and an accumulated depreciation of 540.000 ₺ with the aim of renewing it for 450.000 ₺+10% VAT. The VAT value was collected in cash, and a check was received for the remaining amount. 

Record the accounting entry for sale of trucks.

Answer rating: 100% (QA)

The accounting entry for the sale of the truck can be recorded as follows Debit 1 Cash ... View the full answer