Marriott International is a worldwide operator and franchisor of hotels and related lodging facilities totalling over $2.3 billion in property and equipment. It also develops, operates, and markets time-share properties totalling nearly $2.4 billion. Assume that Marriott replaced furniture that had been used in the business for five years. The records of the company reflected the following regarding the sale of the existing furniture:

Required:

1. Prepare the journal entry for the disposal of the furniture, assuming that it was sold for:

a. $760,000 cash b. $1,790,000 cash c. $620,000 cash

Furniture (cost) Accumulated depreciation $4,200,000 3,440,000 Journal entry worksheet Record sale of furniture for $1,790,000 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit b. Record entry Clear entry View general journal Journal entry worksheet