Noble Company has a equipment that originally cost $73,000. Depreciation has been recorded for six years using the straight-line method, with a $9,000 estimated salvage
Noble Company has a equipment that originally cost $73,000. Depreciation has been recorded for six years using the straight-line method, with a $9,000 estimated salvage value at the end of an expected eight-year life. After recording depreciation at the end of six years, Noble sells the equipment. Prepare the journal entry to record the equipments sale for (Round to the nearest dollar):
| a. | $35,000 | cash |
| b. | $25,000 | cash |
| c. | $22,000 | cash |
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Authors: Atrill Peter, Eddie McLaney
6th Edition
0273771833, 978-0273771838
