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 663 alrcraft and 63,000 vehicles and trailers that pick up and deliver packages. Assume that Fast Delivery sold a dellvery truck that had been used in the business for three years. The records of the company reflected the following: Delivery truck cont Aceumulated depreciation $ 50,000 35,100 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 fleld.) a. $14,900 cash b. $17,500 cash c. $14,000 cash View transaction llat Journal entry worksheet 3 Record the disposal of the truck, assuming the truck was sold for $14,900 cash. Note Enter debits before credits Transaction General Journal Debit Credit a.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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 663 alrcraft and 63,000 vehicles and trailers that pick up and dellver 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 cont
Accumulated depreciation
$ 50,000
35,100
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 requlred" in the first account fleld.)
a. $14,900 cash
b. $17,500 cash
c. $14,000 cash
View transaction lat
Journal entry worksheet
2
Record the disposal of the truck, assuming the truck was sold for $14,900
cash.
Note: Enter debits before credits.
Transaction
General Journal
Debit
Credit
Racord noto
Cinaante
Vaw nanncalloucoal
Transcribed Image Text: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 663 alrcraft and 63,000 vehicles and trailers that pick up and dellver 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 cont Accumulated depreciation $ 50,000 35,100 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 requlred" in the first account fleld.) a. $14,900 cash b. $17,500 cash c. $14,000 cash View transaction lat Journal entry worksheet 2 Record the disposal of the truck, assuming the truck was sold for $14,900 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Racord noto Cinaante Vaw nanncalloucoal
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