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Exercise 8-24A Recording plant asset disposals LO P2, P5 The following information applies to the questions displayed below) On January 2, 2017, Bering Co. disposes

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Exercise 8-24A Recording plant asset disposals LO P2, P5 The following information applies to the questions displayed below) On January 2, 2017, Bering Co. disposes of a machine costing $44,000 with accumulated depreciation of $24.625 Prepare the entries to record the disposal under each of the following separate assumptions Exercise 8-24A Part 1 1. The machine is sold for $18.250 cash. 0 Answer is not complete. General Journal Credit Jan 02 Cash 18,260 (old) 24,6250 Gain on sale of equipment Machinery (new) 1,125 0 44,0006

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