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On 1/1/X2, Carter Inc. sold one of its machines for $22,000 cash. The following data are available for the machine on the disposal date: Cost
On 1/1/X2, Carter Inc. sold one of its machines for $22,000 cash. The following data are available for the machine on the disposal date: Cost = $100,000 Accumulated depreciation = $65,000 Original residual value = $15,000 Required: In the journal below, prepare the journal entry to record the machine's disposal. Do not use symbols, decimals, or cents in the numerical response. Date Debit Credit 1/1/X2 Answer 1 Question 2 Answer 2 Question 2 Answer 3 Question 2 Accumulated Depreciation Answer 4 Question 2 65,000 Answer 5 Question 2 Loss on Sale Answer 6 Question 2 Answer 7 Question 2 Answer 8 Question 2
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