Disposal of an Operating Asset

Jolie Company owns equipment with a cost of $$175,000$ and accumulated depreciation of $$73,500.$

Required:

Prepare the journal entry to record the disposal of the equipment on April $9$ assuming:

Question Content Area

$1.$ Jolie sold the equipment for $$113,700$ cash. If an amount box does not require an entry, leave it blank.

Apr. $9$

Question Content Area

$2.$ Jolie sold the equipment for $$94,400$ cash. If an amount box does not require an entry, leave it blank.

Apr. $9$