Question
How do I Journalize the following for accounting The original refrigerator the business used was purchased for $2000 cash on 1/1/2013. By July 1. Antonio
How do I Journalize the following for accounting
"The original refrigerator the business used was purchased for $2000 cash on 1/1/2013. By July 1. Antonio sold it for 13000 cash. the fridge had a book value of $1500."
So far I have a debit to Equipment for 2000 and a credit to cash for 2000. But I don't know how to record the depreciation expense/accrued and accounting for the sale.
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Financial Accounting And Reporting
Authors: Barry Elliott, Jamie Elliott
13th Edition
0273730045, 978-0273730040
