While leadership requires structuring the organization, staffing it with capable people, and monitoring activities; management goes beyond these functions by inspiring people to attain the vision.

At the end of a month, a business shows the following balances in its ledger

Use this data to prepare a trial balance. What will be an ideal response

A truck that cost $18,000, was estimated to have a salvage value of $4,000, and was expected to last 10 years. At the end of 5 years of use (assume straight line depreciation), it was sold for $15,000, the journal entry to record the sale will involve a:

A. Debit to Loss on Sale for $4,000 B. Credit to Gain on Sale for $8,000 C. Credit to Truck for $11,000 D. Debit to Accumulated Depreciation - Truck for $7,000