Fast Delvery 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 657 aircraft and 62,000 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 Accueulsted depreciation $ 43,000 28,000 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. $15.000 cash b. $17,300 cash c. $13,300 cash View transaction list Journal entry worksheet 2. 3. Record the disposal of the truck, assuming the truck was sold for $15,000
Fast Delvery 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 657 aircraft and 62,000 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 Accueulsted depreciation $ 43,000 28,000 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. $15.000 cash b. $17,300 cash c. $13,300 cash View transaction list Journal entry worksheet 2. 3. Record the disposal of the truck, assuming the truck was sold for $15,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![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 657 aircraft and 62,000 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 cost
Accumulated depreciation
$ 43,000
28,000
Required:
1. Prepare the journal entry for the disposal of the truck, assuming that the truck sold for: (If no entry
transaction/event, select "No journal entry required" in the first account field.)
required for a
a. $15,000 cash
b. $17,300 cash
c. $13,300 cash
View transaction list
Journal entry worksheet
2
3
Record the disposal of the truck, assuming the truck was sold for $15,000
cash.
Note: Enter debits before credits.
General Journal
Debit
Credit
Transaction
a
< Prav
10 of 11
Next >](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc75d5a7b-ab63-418d-802a-b949799fef2b%2Ff07fb0a5-6bba-44f7-b134-02b0c67d6779%2Fzp8ocmg_processed.jpeg&w=3840&q=75)
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 657 aircraft and 62,000 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 cost
Accumulated depreciation
$ 43,000
28,000
Required:
1. Prepare the journal entry for the disposal of the truck, assuming that the truck sold for: (If no entry
transaction/event, select "No journal entry required" in the first account field.)
required for a
a. $15,000 cash
b. $17,300 cash
c. $13,300 cash
View transaction list
Journal entry worksheet
2
3
Record the disposal of the truck, assuming the truck was sold for $15,000
cash.
Note: Enter debits before credits.
General Journal
Debit
Credit
Transaction
a
< Prav
10 of 11
Next >
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