Question
Funseth Farms Inc. purchased a tractor in 2013 at a cost of $54,000. The tractor was sold for $5,000 in 2016. Depreciation recorded through the
Funseth Farms Inc. purchased a tractor in 2013 at a cost of $54,000. The tractor was sold for $5,000 in 2016. Depreciation recorded through the disposal date totaled $46,000.
1. Prepare the journal entry to record the sale.
2. Assuming that the tractor was sold for $16,000, prepare the journal entry to record the sale.
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ISO 27001 Controls A Guide To Implementing And Auditing
Authors: IT Governance
1st Edition
1787781445, 978-1787781443
