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1 I need the journal entry for recording the depreciation for machine A 2. Recording the sale 3. recording the depreciation for machine B 4.
1 I need the journal entry for recording the depreciation for machine A
2. Recording the sale
3. recording the depreciation for machine B
4. recording the disposal
the Chart of accounts only has fields for accumulated-equipment and equipment so it does not have machine A or machine B
Estimated Life Asset Machine A Machine B Original Cost $33,000 65,200 Residual Value $3,600 4,300 Accumulated Depreciation (straight-line) $22,050 (3 years) 47,950 (11 years) 4 years 14 years The machines were disposed of in the following ways: a. Machine A: Sold on January 1 for $11,700 cash. b. Machine B: On January 1, this machine was sold to a salvage company at zero proceeds (and zero cost of removal). Required: 1. & 2. Prepare the journal entries related to the disposal of Machine A and B at the beginning of the current year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the current year depreciation for Machine A prior to disposal. Check my View transaction list View journal entry worksheet No Date General Journal Credit Debit 8,250 1 January 01 Depreciation Expense Accumulated Depreciation-Equipment 8,250 2 January 01 11,700 Cash Accumulated Depreciation Equipment 22.050 3 January 01 4.657 Depreciation Expense Accumulated Depreciation Equipment 4,657 4 January 01 Accumulated Depreciation Equipment Loss on Disposal Equipment 22,050 17.350 65.200
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