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Do your best to make each entry below. Your answers don't have to be perfect to earn the points! The exercise is intended to remind
Do your best to make each entry below. Your answers don't have to be perfect to earn the points! The exercise is intended to remind you about gains and losses from disposals of assets. WORK IN PENCIL so that you can correct your work, if needed. Truck: Original cost $33,000; Balance in Accumulated Depreciation: $14,000; Sold for $24,000; Entry to record the sale: Krystal Co. sold a machine it no longer needed for cash of $23,000. On the date of sale, Accumulated Depreciation had a balance of 10,000. Originally, the machine had cost Krystal Co. a total of $39,000. Entry to record the sale
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