Question
Equipment acquired at a cost of $273,500 has accumulated depreciation of $89,250, giving it a book value of $184,250.Record a journal entry for each of
Equipment acquired at a cost of $273,500 has accumulated depreciation of $89,250, giving it a book value of $184,250.Record a journal entry for each of the following:
(1)
Assume the equipment was sold for $170,500.
(2)
Assume the equipment was sold for $189,000.
Date
Description
Debit
Credit
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Fundamental Managerial Accounting Concepts
Authors: Thomas P Edmonds, Philip R Olds
9th Edition
1259969509, 9781259969508
