Wiley Company sells office equipment on September 30, 2001, for $21,000 cash. The office equipment originally cost

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Wiley Company sells office equipment on September 30, 2001, for $21,000 cash.

The office equipment originally cost $72,000 and as of January 1, 2001, had accumulated depreciation of $42,000. Depreciation for the first 9 months of 2001 is $6,250. Prepare the journal entries to

(a) update depreciation to September 30, 2001, and

(b) record the sale of the equipment.

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Financial Accounting Tools For Business Decision Making

ISBN: 9780471347743

2nd Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Posted: Jun 25, 2024 02:05 AM

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Wiley Company sells office equipment on September 30, 2001, for $21,000 cash. The office equipment originally cost

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Financial Accounting Tools For Business Decision Making

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