Answer to Question #301206 in Accounting for dee

Question

ABC company sold a truck for $950,000 the truck had been purchased 2 years on Jan for $230,000 the amount of deportation is $400 at year accumulative for the amount was recorded at the end of the two previous years.

A. Record the depreciation for the current year to JUN 30

B. record the sale of the truck

Answer 1

a.debit main production credit depreciation  - 200
b.debit settlements with buyers credit other income - 950 000