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A truck that cost $105,000 and on which $50,000 of accumulated depreciation has been recorded...

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Accounting

A truck that cost $105,000 and on which $50,000 of accumulated depreciation has been recorded was disposed of for $45,000 cash. The entry to record this event would include a gain of $10,000. loss of $10,000. credit to the Truck account for $55,000. credit to Accumulated Depreciation for $50,000.

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