Question
Assume a company purchased a vehicle on January 1, 2020 that cost $20,000. The useful life is 10 years and the salvage value is $4,000.
Assume a company purchased a vehicle on January 1, 2020 that cost $20,000. The useful life is 10 years and the salvage value is $4,000. The company uses straight-line depreciation. On January 1, 2022, the company sells the vehicle for $14,500. The journal entry to record the sale will include:
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Just In Time Accounting How To Decrease Costs And Increase Efficiency
Authors: Steven M. Bragg
3rd Edition
0470403721, 978-0470403723
