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On September 30, 2021, Winfield Enterprises sold office equipment for $12,000. The equipment was purchased on March 31, 2018, for $24,000. The asset was being
On September 30, 2021, Winfield Enterprises sold office equipment for $12,000. The equipment was purchased on March 31, 2018, for $24,000. The asset was being depreciated over a five-year life using the straight-line method, with depreciation based on months in service. No residual value was anticipated. Required: Prepare the journal entries to record 2021 depreciation and the sale of the equipment
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