On January 2, Year 1, Wright Company purchased equipment costing

$6,300

, with an estimated years.\ On December 31, Year 6, Wright Company sold the equipment to Used Machine Company for

$5

, Required:\ Prepare the journal entry to record the sale of the asset.\ Note: Assume that Wright Company uses the straight-line depreciation method and that depreci

On January 2, Year 1, Wright Company purchased equipment costing $6,300, with an estimated years. On December 31, Year 6, Wright Company sold the equipment to Used Machine Company for $5 Required: Prepare the journal entry to record the sale of the asset. lote: Assume that Wright Company uses the straight-line depreciation method and that deprec On January 2, Year 1, Wright Company purchased equipment costing $6,300, with an estimated years. On December 31, Year 6, Wright Company sold the equipment to Used Machine Company for $5 Required: Prepare the journal entry to record the sale of the asset. lote: Assume that Wright Company uses the straight-line depreciation method and that deprec