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need help with these please ! and show how you got answers thank you! Rayya Company purchases a machine for $201,600 on January 1, 2021
need help with these please ! and show how you got answers thank you!
Rayya Company purchases a machine for $201,600 on January 1, 2021 Straight-line depreciation is taken each year for four years assuming a eight-year life and no salvage value. The machine is sold on July 1, 2025, during its fifth year of service Prepare entries to record the partial year's depreciation on July 1, 2025, and to record the sale under each separate situation (1) The machine is sold for $100,800 cash (2) The machine is sold for $84,672 cash. Journal entry worksheet Record the sale of the machinery for $100,800 cash. Note: Enter debits before credits. General Journal Den Credit Date July 01, 2025 Record entry Clear entry View general Journal Journal entry worksheet Step by Step Solution
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