Question: ZCL Composites sold a van on March 1, 2014. The accounts showed adjusted balances on February 28, 2014, as follows: Van......................................................................................................................... $42,000 Accumulated Depreciation, Van

ZCL Composites sold a van on March 1, 2014. The accounts showed adjusted balances on February 28, 2014, as follows:
Van......................................................................................................................... $42,000
Accumulated Depreciation, Van ............................................................................ 21,850

Required
Record the sale of the van assuming the cash proceeds were:
a. $20,150
b. $21,600
c. $19,200
d. $0 (the van was scrapped).

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