Company sold a used truck for 24,000. Original cost 62,000 and total depreciation of 18,000. Prepare journel entry to record sale of truck


I got

Dr Acc. Depreciation 18,000
DR cash 24,000
DR lost of sale 20,000
Cr truck 62,000

I don't think I'm right, I don't think I put in loss of sale

Looks good. Truck has a book value of 44,000 (62,000-18,000) and sold for a loss of 20,000 (44,000 Book Value- 24,000 cash received).