John's uncle donated a truck to his company, John's Corporation. The truck had an original cost of $95,000, a book value of $40,000, and a fair value of $60,000. The journal entry by John's Corporation to record this donated asset will include a
A. ?debit Truck for $60,000 and credit Gain for $20,000.
B. ?debit Truck for $60,000 and credit Gain for $60,000.
C. ?debit Truck for $95,000 and credit Gain for $35,000.
D. ?debit Truck for $95,000 and credit Gain for $95,000.
Answer: B
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