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QUESTION
Company sold a delivery truck for $11,000. The delivery truck originally cost $25,000 in 2007 and $6,000 was spent on a major overhaul in 2010...
Company sold a delivery truck for $11,000. The delivery truck originally cost $25,000 in 2007 and $6,000 was spent on a major overhaul in 2010 (charged to Delivery Truck account). Accumulated Depreciation on the delivery truck to the date of disposal was $20,000.
