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7-26 journel entry Required information Problem 7-8A (Algo) Record the disposal of equipment (LO7-6) [The following information applies to the questions displayed below.] New Morning

7-26
journel entry
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image text in transcribed
Required information Problem 7-8A (Algo) Record the disposal of equipment (LO7-6) [The following information applies to the questions displayed below.] New Morning Bakery is in the process of closing its operations. It sold its twoyear-old bakery ovens to Great Harvest Bakery for $580,000. The ovens originally cost $778,000, had an estimated service life of 10 years, had an estimated residual value of $48,000, and were depreciated using straightline depreciation. Complete the requirements below for New Morning Bakery. Journal entry worksheet Record the sale of ovens. Note: Enter debits before credits

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