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questions half way done please help ! 0.87 Question 7 of 14 Show Attempt History Current Attempt in Progress Your answer is partially correct. Prepare
questions half way done please help
! 0.87 Question 7 of 14 Show Attempt History Current Attempt in Progress Your answer is partially correct. Prepare journal entries to record these transactions. (Credit account titles are automatically Indented when amount is entered. Do not Indent manually. If no entry's required, select "No Entry" for the account titles and enter for the amounts.) (a) Echo Company retires its delivery equipment, which cost $41,000. Accumulated depreciation is also $41,000 on this delivery equipment. No salvage value is received Assume the same information as in part (a), except that accumulated depreciation for the equipment is $37,200 instead of 41,000. (b) Debit Credit No. Account Titles and Explanation 41,000 (a) Accumulated Depreciation Equipment 41,000 Equipment 37,200 (b) Accumulated Depreciation Equipment Loss on Disposal of Plant Assets Equipment Current Attempt in Progress Your answer is partially correct. Abner Company purchases a patent for $156,000 on January 2, 2022. Its estimated useful life is 6 years. (a) Prepare the journal entry to record amortization expense for the first year. (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 Ofor the amounts) Debit Credit Account Titles and Explanation Amortization Expense Patents (5) Show how this patent is reported on the balance sheet at the end of the first year. e Textbook and Media Step by Step Solution
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