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I need help with this question asap. thanks! Presented here are selected transactions for Cullumber Limited for 2018 . Cullumber uses straight-line depreciation and records
I need help with this question asap. thanks!
Presented here are selected transactions for Cullumber Limited for 2018 . Cullumber uses straight-line depreciation and records adjusting entries annually. Jan. 1 Sold a delivery truck for $19,190 cash. The truck cost $67,530 when it was purchased on January 1,2015 , and was depreciated based on a four-year useful life with a $6,290 residual value. Sept. 1 Sold computers that were purchased on January 1, 2016. They cost $11,628 and had a useful life of three years with no residual value. The computers were sold for $540cash. Dec. 30 Retired equipment that was purchased on January 1, 2009. The equipment cost $146,400 and had a useful life of 10 years with no residual value. No proceeds were received. Record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. n Step by Step Solution
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