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On January 2, 2018, Hardy Furniture purchased display shelving for $8,800 cash, expecting the shelving to remain in service for five years. Hardy depreciated the
On January 2, 2018, Hardy Furniture purchased display shelving for $8,800 cash, expecting the shelving to remain in service for five years. Hardy depreciated the shelving on a double-declining balance basis, with $1,700 estimated residual value. On October 31, 2019, the company sold the shelving for $2,100 cash. Read the requirement. Start by recording depreciation expense on the shelving for 2019. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit - X Oct 31 Requirement Depreciation ExpenseFixtures Accumulated DepreciationFixtures 1. Record both the depreciation expense on the shelving for 2019 and its sale in October. Also show how to compute the gain or loss on the disposal of the shelving. Print Done Choose from any list or enter any number in the input fields and then click Check Answer. ? 3 parts Clear All Final Check remaining
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