Disposal of an Operating Asset

Jolie Company owns equipment with a cost of $$100,000$ and accumulated depreciation of $$26,000.$

Required:

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

Jolie sold the equipment for $$82,900$ cash. If an amount box does not require an entry, leave it blank.

Apr. $9$

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Jolie sold the equipment $$68,800$ cash. If an amount box does not require an entry, leave it blank.

Apr. $9$

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