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ChatGPT Question 6 - Sale / Discard of an Asset On July 1 , 2 0 1 9 , Smithson Corporation sold equipment that had
ChatGPT Question SaleDiscard of an Asset On July Smithson Corporation sold equipment that had a historical cost of $ an estimated useful life of years, a salvage value of $ and accumulated depreciation as of December totaling $ under the straightline depreciation method. a Prepare the journal entry to record depreciation up to the date of disposal of the equipment. b Prepare the journal entry to record the disposal of the equipment.
ChatGPT
Question SaleDiscard of an Asset
On July Smithson Corporation sold equipment that had a historical cost of $ an estimated useful life of years, a salvage value of $ and accumulated depreciation as of December totaling $ under the straightline depreciation method.
a Prepare the journal entry to record depreciation up to the date of disposal of the equipment.
b Prepare the journal entry to record the disposal of the equipment.
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