(Answered) Panda inn incat the end of the year panda inn owns a fleet

Accounting

Panda Inn. Inc.

At the end of the year Panda Inn owns a fleet of 15 trucks all of which have 10 year useful lives, $1,000 residual values and are depreciated under GAAPs straight-line method. The CEO has authorized the sale of one five-year-old truck whose original cost was $45,000 at December 31". A few months later on March 213th a buyer is found and Panda receives the Kelly Blue Book fair market value of $16,900 for the automobile.

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