A truck cost $60,000 when purchased and has a $55,000 balance in the accumulated depreciation account. If the truck is discarded we will record: Group of answer choices credit to loss on disposal, $60,000 credit to accumulated depreciation, $60,000; and credit to loss on disposal, $5,000 debit to truck, $60,000 debit to accumulated depreciation, $55,000; and debit to loss on disposal, $5,000

Afirm wants to strengthen its financial position. which of the following actions would increase its current ratio? a. reduce the company's days' sales outstanding to the industry average and use the resulting cash savings to purchase plant and equipment. b. use cash to repurchase some of the company's own stock. c. borrow using short-term debt and use the proceeds to repay debt that has a maturity of more than one year. d. issue new stock, then use some of the proceeds to purchase additional inventory and hold the remainder as cash. e. use cash to increase inventory holdings.