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Question 17 4 pts The Empire is in desperate need of cash to fund the continuing war with the Rebellion so the Emperor and Imperial
Question 17 4 pts The Empire is in desperate need of cash to fund the continuing war with the Rebellion so the Emperor and Imperial officers decide to sell the Death Star and they put it on Craigslist.com. The Death Star has a fair market value of $625 million and they are able to find a buyer who pays them $695 million. At the time of sale, the Death Star has a Net Book Value (NBV) on the Empire's balance sheet for $355 million. The Empire had purchased the Death Star for $650 million and was depreciating it over 25 years using the straight-line method. Your numbers above reflect the current years depreciation expense (it's already been recorded). Record the journal entry for the sale of the Death Star on December 18, 2019. (To answer this question, please copy and paste the table, and enter your answers in corresponding cells of the table. You may or may not need all of the rows in the table.) DATE DESCRIPTION DEBIT CREDIT
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