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Clipboard Font Alignment G11 B F G 4.1 Accounting for Asset Disposal Points: 8 items @ 2 pts. Each Directions: Prepare the journal entry based on the information below. Background Information: Donald sold equipment for $2,500 which cost $10,000 5 The equipment has accumulated depreciation of $7,000 6 7 8 15-Dec Cash 9 Accumulated Depreciation 10 Loss 11 Equipment Clipboard Font Alignment 12 G11 13 Helpful Information A B C D E F G H 14 4.3 Recording Investment in Bonds - Long Term Asset Points: 12 items @ 2 p 15 Asset Disposal 16 Directions: Prepare journal entries based on the following information 17 Asset Disposal Article 2 18 a) Record the purchase of $100,000 bond, 8%, 5-year bond 19 at par value with interest paid semiannually 20 Date Account Debit Credit Issue Investment in Bonds Cash 1 b) Record receipt of an interest payment 14 Date Account Debit Credit 15 Interest Cash MA BFMerge & Cen Interest Income Clipboard Font G11 Alignment 18 c) Record redemption of bond at maturity 9 20 Date Account Debit B Credit C 4.2 Accounting for Asset Disposal D E F G 21 Maturity Cash 22 Investment in Bonds Directions: Prepare the journal entry based on the information below. Point 23 24 Ready 14 4 6 1 Problem 4.1 Problem 4.2 Problem 4.3 Problem 4.4 Problem 4.5 Problem 4.6 Background Information: Donald sold equipment for $7,500 which cost $9,500 The equipment has accumulated depreciation of $5,500 15-Dec Cash Accumulated Depreciation Equipment Gain 13 14 Helpful Information 15 16 Asset Disposal 17 18 Asset Disposal Article 2