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Oriole Company owns equipment that cost $ 1 2 7 , 0 0 0 when purchased on January 1 , 2 0 1 9 .
Oriole Company owns equipment that cost $ when purchased on January It has been depreciated using the straight
line method based on an estimated salvage value of $ and an estimated useful life of years. Depreciation expense adjustments
are recognized annually.
Instructions:
Prepare Oriole Company's journal entries to record the sale of the equipment in these four independent situations. Update
depreciation on assets disposed of at time of sale. Credit account titles are automatically indented when the amount is entered. Do not
indent manuolly. List all debit entries before credit entries If no entry is required, select No Entry" for the account titles and enter Ofor the
amounts.
a Sold for $ January
b Sold for $ April
c Sold for $ January
d Sold for $ on September
e Repeat a assuming Oriole uses doubledeclining balance depreciation.
f Repeat c assuming Oriole uses doubledeclining balance depreciation.
SR Account Titles and Explanation
a
b
To record depreciation
To record sale of Equipment
c
d
To record depreciation
To record sale of Equipment
c
f
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