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New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $570,000. The ovens
New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $570,000. The ovens originally cost $767,000, had an estimated service life of 10 years, had an estimated residual value of $47,000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. Record the sale of ovens. Note: Enter debits before credits. Transaction General Journal Debit Credit
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