Question
An asset acquired January 1, 2021, for $14,900 with an estimated 10-year life and no residual value is being depreciated in an equipment group
An asset acquired January 1, 2021, for $14,900 with an estimated 10-year life and no residual value is being depreciated in an equipment group asset account that has an average service life of eight years. The asset is sold on December 31, 2022, for $6,300. The entry to record the sale would be:
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Cost management a strategic approach
Authors: Edward J. Blocher, David E. Stout, Gary Cokins
5th edition
73526940, 978-0073526942
