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Metlock Inc. owns equipment that costs $62,200 when purchased on January 1st, 2016. It has been depreciated using the straight-line method based on an estimated
Metlock Inc. owns equipment that costs $62,200 when purchased on January 1st, 2016. It has been depreciated using the straight-line method based on an estimated salvage value of $4,000 and an estimated useful life of 5 years. 
No. Account Titles and Explanation Debit Credit (To record depreciation) (To record sale of equipment) Prepare Metlock Incs journal entries to record the sale of equipment in these 4 independent situations.
a) Sold for $29,920 on January 1st, 2019
b) Sold for $29,920 on May 1st, 2019
c) Sold for $10,700 on January 1st, 2019
d) Sold for $10,700 on October 1st, 2019
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Fundamental financial accounting concepts
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
8th edition
978-007802536, 9780077648831, 0078025362, 77648838, 978-0078025365
