A company purchased ten delivery vehicles at a cost of $20,000 each and used the group depreciation method. Which of the following entries would be correct when recording the subsequent sale of a vehicle for $8,500 (group accumulated depreciation is $88,000)?
A) Cash 8,500Accumulated Depreciation 8,800Vehicles 17,300
B) Cash 8,500Accumulated Depreciation 11,500Vehicles 20,000
C) Cash 8,500Vehicles 8,500
D) Cash 8,500Accumulated Depreciation 8,800Loss on Sale 2,700Vehicles 20,000
B
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