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help Presented here are selected transactions for Wildhorse Limited for 2018 . Wildhorse uses straight-line depreciation and records adjusting entries annually. Jan. 1 Sold a
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Presented here are selected transactions for Wildhorse Limited for 2018 . Wildhorse uses straight-line depreciation and records adjusting entries annually. Jan. 1 Sold a delivery truck for $17,460 cash. The truck cost $56,990 when it was purchased on January 1,2015 , and was depreciated based on a four-year useful life with a $5,870 residual value. Sept. 1 Sold computers that were purchased on January 1,2016 . They cost $10,422 and had a useful life of three years with no residual value. The computers were sold for $550 cash. Dec. 30 Retired equipment that was purchased on January 1, 2009. The equipment cost $160,800 and had a useful life of 10 years with no residual value. No proceeds were received. (a) Record the above tratsactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Step by Step Solution
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