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As part of a major renovation at the beginning of the year, Bonham's Bakery sold shelving units (store fixtures) that were 17 years old for

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As part of a major renovation at the beginning of the year, Bonham's Bakery sold shelving units (store fixtures) that were 17 years old for $2,800 cash. The original cost of the shelves was $7,500 and they had been depreciated on a straight-line basis over an estimated useful life of 19 years with an estimated residual value of $1.800. Record the sale of the shelving units. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Answer is complete but not entirely correct. No Transaction General Journal Credit 1 Cash Debit 2.800 5.100 Accumulated depreciation, store foctures Gain on sale of store foctures Store fixtures sos 240 X 7,500

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