A trucking company sold its fleet of trucks for $56,700. The trucks originally cost $1,491,000...
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A trucking company sold its fleet of trucks for $56,700. The trucks originally cost $1,491,000 and had Accumulated Depreciation of $1,286,000 recorded through the date of disposal. What gain or loss did the trucking company record when it sold the fleet of trucks? Multiple Choice Gain of $56,700. Loss of $148,300. Loss of $56,700. Gain of $148,300. Holly, Inc. has a building that originally cost $375,000. Holly expects to be able to sell the facility for $258,000 at the end of its useful life. The balance of the related Accumulated Depreciation account is $107,000. The residual value of the facility is: Multiple Choice $117,000. $151,000. $268,000. $258 $258,000
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