$6$

MerryYacht International is a worldwide operator, franchisor, and Iicensor of hotels, residential, and timeshare properties totaling nearly $$1\mathrm{.}5$ billion in net property and equipment. Assume that MerryYacht replaced furniture that had been used in the business for five years. The records of the company reflected the following regarding the sale of the existing furniture:

Furniture $($cost$)$

Accumulated depreciation

$$6,200,000$

$5,697,000$

$02*27$:$44$

Required:

Prepare the journal entry for the disposal of the furniture, assuming that it was sold for:

Note: If no entry is requlred for a transaction$/$event$,$ select $"$No journal entry requlred" In the first account field. Enter your answers In dollars not In millions.

a$.$ $$503,000$ cash

b$.$ $$1,617,000$ cash

c$.$ $$404,000$ cash

Journal entry worksheet

$1$

$2$

$3$

Record the disposal of the furniture, assuming the furniture was sold for $$503,000$ cash.

Note: Enter debits before credits.

$\backslash$table$[[$Transaction$,$General Journal,Debit,Credit$],[$a$.,,,],[,,,],[,,,],[,,,]]$

Please do a$,$b$,$and c