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Ly Company disposed of two different assets. On January 1 , prior to their disposal, the accounts reflected the following: The machines were disposed of
Ly Company disposed of two different assets. On January prior to their disposal, the accounts reflected the following:
The machines were disposed of in the following ways:
a Machine A: Sold on January for $ cash.
b Machine B: On January this machine was scrapped with zero proceeds and zero cost of removal
Required:
& Prepare the journal entries related to the disposal of Machine A and at the beginning of the current year. If no entry is
required for a transactionevent select No Journal Entry Required" in the first account field.
Journal entry worksheet
Note: Enter debits before credits.
Date
General Journal
Debit
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