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On January 1, 2010, Comfort Realty, purchased a limo at an acquisition cost of $28,000. The vehicle has been depreciated by the stright0line method using

  1. On January 1, 2010, Comfort Realty, purchased a limo at an acquisition cost of $28,000. The vehicle has been depreciated by the stright0line method using a 4-year service life and a $4,000 salvage value. The companys fiscal year ends on December 31. prepare the journal entry or entries to record the disposal of the limousine assuming that it was:
    1. Retired and scrapped with no salvage value of January 1 2014
    2. Sold for $9,000 on July 1, 2013

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