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Aiken Company owns a truck that was purchased 4 years ago. The company spent $4,000...

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Accounting

Aiken Company owns a truck that was purchased 4 years ago. The company spent $4,000 to replace the transmission which will extend the useful life by 2 years. Which of the following choices represents the journal entry necessary to record this transaction?
Assets = Liab. + Equity Rev. Exp. = Net Inc. Cash Flow
Cash + Truck Acc. Dep.
(4,000) + n/a n/a = n/a + (4,000) n/a 4,000 = (4,000) (4,000) OA
Assets = Liab. + Equity Rev. Exp. = Net Inc. Cash Flow
Cash + Truck Acc. Dep.
(4,000) + 4,000 n/a = n/a + n/a n/a n/a = n/a (4,000) IA
Assets = Liab. + Equity Rev. Exp. = Net Inc. Cash Flow
Cash + Truck Acc. Dep.
(4,000) + n/a (4,000) = n/a + n/a n/a n/a = n/a (4,000) IA
Assets = Liab. + Equity Rev. Exp. = Net Inc. Cash Flow
Cash + Truck Acc. Dep.
(4,000) + n/a n/a = n/a + (4,000) n/a 4,000 = (4,000) (4,000) IA

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