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Question 2 Presented here are selected transactions for Blassom Limited for 2018. Blossam uses straight-line depreciation and records adjusting entries annually. Jan. 1 Sald a
Question 2 Presented here are selected transactions for Blassom Limited for 2018. Blossam uses straight-line depreciation and records adjusting entries annually. Jan. 1 Sald a delivery truck for $16,940 cash. The truck cost 556,270 when it was purchased on January 1, 2015, and was depreciated based on a four-year useful life with a $5,490 residual value. Sept. 1 Sold computers that were purchased on January 1, 2016. They cost $11,421 and had a useful life of three years with no residual value. The computers were sold for $540 cash. Dec. 30 Retired equipment that was purchased an January 1, 2009. The equipment cost $145,000 and had a useful life of 10 years with no residual value. Na proceeds were received. Record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Tities and Explanation Debit Credit Jan. 1 Sept. 1 To record depredation experse) {To record the sale of equipment for cash) Dec 30 (To record depredaton experse) (To record the retirement of equpment) Attempts: 0 of 1 used SUBMIT
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