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Jay Chittal company has a machine that cost $18,000, no salvage value and useful life of 5 years and has an accumulated depreciation of $10,

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Jay Chittal company has a machine that cost $18,000, no salvage value and useful life of 5 years and has an accumulated depreciation of $10, 800 as of December 31, 2011. The company is using straight-line method of depreciation. Make all the necessary journal entry(ies) for 2012 if the machine is sold on August 1, 2012 for A. $6,000 B. $4,000

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