DISPOSITION OF OPERATING ASSETS. Salva Pest Control disposed of four assets recently. Salvas accounting records provided the
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DISPOSITION OF OPERATING ASSETS. Salva Pest Control disposed of four assets recently. Salva’s accounting records provided the following information about the assets at the time of their disposal:
The truck was sold for $2,000 cash, and the chemical testing apparatus was donated to the local high school. Because the pump was contaminated with pesticides, $500 in cash was paid to a chemical disposal company to decontaminate the pump and dispose of it safely. The office equipment was taken to the local landfill.
REQUIRED:
Prepare a separate journal entry to record the disposition of each of these assets.
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