Journal entry to record orbit sale of the truck, Accounting Basics

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Journal entry to record orbit sale of the truck

Orbit Airways purchased a baggage-handling truck for $41,000. Suppose Orbit sold truck on December 31, 2008, for $28,000 cash, after using the truck for two full years and accumulation depreciation of $16,000. Make the journal entry to record Orbit's sale of the truck.

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Accounting Basics: Journal entry to record orbit sale of the truck

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Accounting Basics: Journal entry to record orbit sale of the truck

Reference No:- TGS062597

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Warrants exceeds the average market price

Q : Distinguish between absolute and relative sizes

Q : Adequate system security

Q : Weakness for using real per capital gdp

Q : Journal entry to record orbit sale of the truck

Q : Explain rational self-interest

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Accounting Basics: Journal entry to record orbit sale of the truck

Reference No:- TGS062597

Recent Questions Asked Accounting Basics

Q : Warrants exceeds the average market price

Q : Distinguish between absolute and relative sizes

Q : Adequate system security

Q : Weakness for using real per capital gdp

Q : Journal entry to record orbit sale of the truck

Q : Explain rational self-interest

Q : Prepare a consolidation worksheet for business combination

Q : Fiscal policy options for ending severe demand-pull

Q : Preparing the tax return

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