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Karley Company sold equipment on July 1, 2021 for $75,000. The equipment had cost $210,000 and had $120,000 of accumulated depreciation as of January 1,
Karley Company sold equipment on July 1, 2021 for $75,000. The equipment had cost $210,000 and had $120,000 of accumulated depreciation as of January 1, 2021. Depreciation for the first 6 months of 2021 was $12,000.
Prepare the journal entry to record the sale of the equipment.
Prepare the journal entry to record the sale of the equipment.
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The journal entry to record the sale of the equipment on July 1 2021 would be Debit C...
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
