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Bernard Company purchased equipment on July 1, 2019, for $87,000. It was depreciated over seven years using the straight-line method. A salvage value of $6,500
Bernard Company purchased equipment on July 1, 2019, for $87,000. It was depreciated over seven years using the straight-line method. A salvage value of $6,500 was estimated. On January 1, 2023, Barnard sold the machine for $60,000. Compute the accumulated depreciation on the machine on the date of the sale. Prepare the journal entry for the sale of the machine. Account title Debit Credit
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Accounting for Non-Accounting Students
Authors: John R. Dyson
8th Edition
273722972, 978-0273722977
