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Question 5 0.5 pts Russ's Ranch bought a new John Deere tractor on 7/1/X3 for $50,000, which had a useful life of 10 years. If,
Question 5 0.5 pts Russ's Ranch bought a new John Deere tractor on 7/1/X3 for $50,000, which had a useful life of 10 years. If, on 12/31/x8 the tractor was sold for $28,000 cash and had accumulated $20,000 in depreciation, Russ's journal entry for the sale on 12/31/x8 would include: Acredit to Tractor (Asset) for $50,000 a debit to cash of $50,000 o : a debit to Sales Revenue of $28,000 A credit to Loss on Sale of $2,000
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