On January 2, 20X6, Jamestown, Inc., sold land and a company operations building it is no longer using. The following data relating to the land and building are obtained from the accounting records of Jamestown:

Instructions:

1. Journalize the sale of the land and building. Use page 12 of a cash receipts journal. The source document is receipt no, 125.

2. Make appropriate notations in the plant asset records.

Transcribed Image Text:

Cash Received Original Cost of Land $ 73,000.00 20,000.00 Original Cost of Building Accumulated Depreciation on Building to 12/31/X5 100,000.00 61,200.00