Decline Corp. is selling off its fixed assets. Show the appropriate journal entry it should record for each of the following transaction -the transactions are not related to each other It sells a truck, with a cost of $40,000 and accumulated depreciation of $8,000, for $30,000 in cash It throws away an old computer, with a cost of $20,000 and accumulated depreciation of $18,000, and receives no cash in return. It trades a delivery truck that it owns for a small car worth $28,000. The truck has an original cost of $40,000 and accumulated depreciation of $15,000. (This trade does have commercial substanceShow transcribed image text Decline Corp. is selling off its fixed assets. Show the appropriate journal entry it should record for each of the following transaction -the transactions are not related to each other It sells a truck, with a cost of $40,000 and accumulated depreciation of $8,000, for $30,000 in cash It throws away an old computer, with a cost of $20,000 and accumulated depreciation of $18,000, and receives no cash in return. It trades a delivery truck that it owns for a small car worth $28,000. The truck has an original cost of $40,000 and accumulated depreciation of $15,000. (This trade does have commercial substance
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