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Problem 10-06A Sheffield Co. has equipment that cost $79,000and that has been depreciated $49,700. Record the disposal under the following assumptions. (a)It was scrapped as

Problem 10-06A

Sheffield Co. has equipment that cost $79,000and that has been depreciated $49,700.

Record the disposal under the following assumptions.

(a)It was scrapped as having no value.

(b)It was sold for $20,600.

(c)It was sold for $30,900.

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