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I don't understand what I'm missing, I completed it but it's saying it's not? What could I be missing in the tabs? Diaz Company owns
I don't understand what I'm missing, I completed it but it's saying it's not? What could I be missing in the tabs?
Diaz Company owns a machine that cost $125,700 and has accumulated depreciation of $93,700. Prepare the entry to record the disposal of the machine on January 1 in each seperate situation. 1. The machine needed extensive repairs and was not worth repairing. Diaz disposed of the machine, receiving nothing in return. 2. Diaz sold the machine for $17,300 cash. 3. Diaz sold the machine for $32,000 cash. 4. Diaz sold the machine for $41,500 cash. Answer is not complete. No Credit Date Jan 01 General Journal Accumulated depreciation-Machine Loss on disposal of machine Machine Debit 93,700 32,000 125,700 2 Jan 01 Cash Loss on sale of machine Accumulated depreciation-Machine 17,300 14,700 93,700 Machine 125,700 Jan 01 Cash 32,000 93,700 Accumulated depreciation-Machine Machine 125,700 Jan 01 Cash 41,500 93,700 Accumulated depreciation-Machine Machine 125,700Step by Step Solution
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