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A truck costing $13,600, which has Accumulated Depreciation of $9,160, was sold for $2,160 cash. The entry to record this event would include a:a. gain of $1,000 b. credit to the Vehicles account for $3,000 c. loss of $1,000 d. credit to Accumulated Depreciation for $9,000

Respuesta :

Answer:

Loss of $2,280

Explanation:

Given that,

cost of truck = $13,600

Accumulated depreciation = $9,160

Sale value = $2,160 cash

Book value on sale = cost of truck - Accumulated depreciation

                                =  $13,600 - $9,160

                                = $4,440

Loss = Sale value - Book value on sale

        = $2,160 cash - $4,440

        = - $2,280

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