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Click to watch the Tell Me More Learning Objective 3 video and then answer the questions below. 1. Assume that equipment acquired at a cost

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Click to watch the Tell Me More Learning Objective 3 video and then answer the questions below. 1. Assume that equipment acquired at a cost of $10,000 is fully depreciated. On June 30, the equipment is discarded. The entry to record the discard would be to debit and credit a. Equipment; Accumulated Depreciation-Equipment b. Accumulated Depreciation-Equipment; Equipment c. Equipment; Depreciation Expense-Equipment d. Accumulated Depreciation-Equipment; Depreciation Expense-Equipment to 2. The entry to record the sale of equipment at book value would include a a. debit: Loss on Sale of Equipment b. credit; Cash c. debit; Accumulated Depreciation d. credit: Accumulated Depreciation

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