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help On January 2, 2023, Direct Shoes Inc. disposed of a machine that cost $100,000 and had been depreciated $54.850. Present the journal entries to
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On January 2, 2023, Direct Shoes Inc. disposed of a machine that cost $100,000 and had been depreciated $54.850. Present the journal entries to record the disposal under each of the following unrelated assumptions: a. The machine was sold for $43,500 cash b. The machine was traded in on new tools having a $149,000 sash price. A$56,000 trade-in allowance was received, and the balance was paid in cash. Since the tools have been customized, the fair values are not known Step by Step Solution
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