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Help Please! On 30 November 2015 a finishing machine was sold. Its capital cost was $25,000 and accumulated depreciation was $13,000 at date of sale.

Help Please!

On 30 November 2015 a finishing machine was sold.

Its capital cost was $25,000 and accumulated depreciation was $13,000 at date of sale.

The machine was sold on credit to Jason Smith for $14,300 (including GST) with the purchaser paying a $1,000 deposit.

Balance date is 30 June 2016.

Q1. Post to the relevant ledger accounts.

Machinery ledger

Amount? Debit/Credit?

Accumulated Depreciation

Amount? Debit/Credit?

Bank

Amount? Debit/Credit?

Accounts Receivable

Amount? Debit/Credit?

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