Fast Delivery is the world's largest express transportation company. In addition to the world's largest fleet of all-cargo aircraft, the company has more than 659 aircraft and 64,000 vehicles and trailers that pick up and deliver packages. Assume that Fast Delivery sold a delivery truck that had been used in the business for three years. The records of the company reflected the following: Delivery truck cost Accumulated depreciation Required: 1. Prepare the journal entry for the disposal of the truck, assuming that the truck sold for: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. $15,200 cash b. $17,000 cash c. $14,300 cash View transaction list Journal entry worksheet < 1 2 Transaction b. $ 53,000 37,800 3 Record the disposal of the truck, assuming that the truck was sold for $17,000 cash. Note: Enter debits before credits. Record entry General Journal Clear entry Debit Credit View general journal >

Fast Delivery is the world's largest express transportation company. In addition to the world's largest fleet of all-cargo aircraft, the company has more than 659 aircraft and 64,000 vehicles and trailers that pick up and deliver packages. Assume that Fast Delivery sold a delivery truck that had been used in the business for three years. The records of the company reflected the following: Delivery truck cost Accumulated depreciation Required: 1. Prepare the journal entry for the disposal of the truck, assuming that the truck sold for: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. $15,200 cash b. $17,000 cash c. $14,300 cash View transaction list Journal entry worksheet < 1 2 Transaction b. $ 53,000 37,800 3 Record the disposal of the truck, assuming that the truck was sold for $17,000 cash. Note: Enter debits before credits. Record entry General Journal Clear entry Debit Credit View general journal >

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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