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1.A truck cost $60,000 when purchased and has a $60,000 balance in the accumulated depreciation account. If the truck is discarded we will record:
Group of answer choices
debit to truck, $60,000
credit to accumulated depreciation, $60,000
credit to truck, $60,000
loss on disposal, $60,000
2.Long-term tangible assets used in the business are:
Group of answer choices
intangible assets
plant assets
long-term investments
inventory
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