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A company owns equipment that cost $125,100 and has accumulated depreciation of $93,900 as of January 1. Prepare the entry to record the disposal
A company owns equipment that cost $125,100 and has accumulated depreciation of $93,900 as of January 1. Prepare the entry to record the disposal of this equipment on January 1 for each separate situation. a. Equipment is sold for $31,650 cash. b. Equipment is sold for $23,500 cash.
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