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Part VI - Plant Asset Disposal Entries (15 points) Prepare the necessary journal entries to record the following transactions in 2019 for Janny Company March
Part VI - Plant Asset Disposal Entries (15 points) Prepare the necessary journal entries to record the following transactions in 2019 for Janny Company March 1 Discarded old equipment that originally cost $44,000 and had a book value of $6,000 on the date of disposal. Assume depreciation on the equipment has already been recorded for the current year. July 31 Sold a delivery truck for $50,000. The delivery truck originally cost $88,000 and had accumulated depreciation of $40,000 on the date of sale. Assume the depreciation on the truck has already been recorded for the current year. Equipment with a 4-year useful life was purchased on January 1, 2015, for $30,000 and was sold for $12,000. The equipment had been depreciated using the straight-line method with an estimated salvage value of $6,000. Depreciation Expense was last recorded on December 31, 2018. Sept. 30
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