Question 23 (3 points)
. Lighting Company sold an old machine on December 31, 2009, for $12,000 cash.
The following data was available when the truck sold:
Acquisition cost $100,000
Estimated residual value at acquisition 8,000
Accumulated depreciation at 12-31-2009
(after adjustment) 85,000
When this transaction is recorded, it should include a
debit of $3,000 to the Loss on Disposal account.
debit of $15,000 to the Truck account.
credit of $7,000 to the Gain on Disposal account.
credit of $15,000 to the Gain on Disposal account