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Bob bought a new car on January 20, 2016. The car cost 35,000, had a useful...

Bob bought a new car on January 20, 2016. The car cost 35,000, had a useful life of five years, and a salvage value of 5,000. Bob depreciates assets using straight line method. Bob sold the car to carmax (a used-car dealer) on January 20, 2018 for 16,000.  What account will Carmax debit when it buys the car? a.) Revenue b.) Inventory c.) Cash d.)Equipment

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