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Question 19 of 22 - / 46.25 View Policies Current Attempt in Progress Ivanhoe Corporation owns machinery that cost $24,800 when purchased on July 1,
Question 19 of 22 - / 46.25 View Policies Current Attempt in Progress Ivanhoe Corporation owns machinery that cost $24,800 when purchased on July 1, 2017. Depreciation has been recorded at a rate of $2,976 per year, resulting in a balance in accumulated depreciation of $10,416 at December 31, 2020. The machinery is sold on September 1, 2021, for $6,448. Prepare journal entries to (a) update depreciation for 2021 and (b) record the sale. (Round answers to 0 decimal places, eg. 5,275. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Debit Credit No. Account Titles and Explanation (a) (b) List of Accounts Save for Later Attempts: 0 of 1 used Submit
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