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On January 1 of 2022, ABAC Farms bought a machine costing $22,000 with a four- year estimated life and an estimated salvage value of
On January 1 of 2022, ABAC Farms bought a machine costing $22,000 with a four- year estimated life and an estimated salvage value of $2,000. Depreciation method is double-declining balance. On July 1 of 2023 (year 2), ABAC sold the machine for $3,500. What is the entry to reflect this sale?
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav
14th Edition
978-0132960649, 132960648, 132109174, 978-0132109178
