Question
1.) June 26 - Sold obsolete office equipment Surplus and obsolete office equipment was sold for $300.00. The office equipment cost $2,500.00 and was fully
1.) June 26 - Sold obsolete office equipment Surplus and obsolete office equipment was sold for $300.00. The office equipment cost $2,500.00 and was fully depreciated.
Debits:
Cash 300.00
Accumulated Depreciation - Office Equipment 2500.00
Credits:
Office Equipment 2500.00
Gain on Sale of Assets 300.00
Is that the correct journal entry?
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The Whole School Audit Development Planning For Primary And Special Schools
Authors: Brian Drakeford
1st Edition
1853465011, 978-1853465017
