Question
Assume that a machine with a cost of $2,000 has accumulated depreciation of $1,000.Assume it is sold for $1,500.Which of the following would be part
Assume that a machine with a cost of $2,000 has accumulated depreciation of $1,000.Assume it is sold for $1,500.Which of the following would be part of the journal entry to record this sale?
a.debit Accumulated Depreciation for $1,000
b.debit the Machine account for $2,000
c.debit Loss on Disposal for $500
d.debit Gain on Disposal for $500
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Financial Accounting
Authors: Jeffrey Waybright, Robert Kemp, Sherif Elbarrad
2nd Canadian edition
133375536, 9780133845396, 133845397, 978-0133375534
