Fast Delivery is the world’s largest express transportation company. In addition to the world’s largest fleet of all-cargo aircraft, the company has more than 663 aircraft and 64,000 vehicles and trailers that pick up and deliver packages. Assume that Fast Delivery sold a delivery truck that had been used in the business for three years. The records of the company reflected the following:
Delivery truck cost $ 51,000
Accumulated depreciation 36,000
Required:
1. Prepare the journal entry for the disposal of the truck, assuming that the truck sold for: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
a. $15,000 cash
b. $16,100 cash
c. $12,900 cash