Question
question: 1.Paid $20,000 cash to purchase equipment costing $80,000. The remaining amount was recognized as a one year note payable with interest rate of 9%.
question:
1.Paid $20,000 cash to purchase equipment costing $80,000. The remaining amount was recognized as a one year note payable with interest rate of 9%.
2.A major dental machine in our office is broken beyond repair after a fire. The dental machine had a book value of $1000 and had accumulated depreciation of $800. What is the journal entry for the scraped machine?
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Financial Accounting Fundamentals
Authors: John J. Wild
8th Edition
1260728609, 9781260728606
