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Required information Skip to question [ The following information applies to the questions displayed below. ] During the current year, Yost Company disposed of three

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[The following information applies to the questions displayed below.]
During the current year, Yost Company disposed of three different assets. On January 1 of the current year, prior to the disposal of the assets, the accounts reflected the following:
Asset Original Cost Residual Value Estimated Life Accumulated Depreciation (straight line)
Machine A $21,000 $3,0008 years $15,750(7 years)
Machine B 120,00014,00010 years 84,800(8 years)
Machine C 85,0005,00015 years 64,000(12 years)
The machines were disposed of during the current year in the following ways:
Machine A: Sold on January 1 for $5,000 cash.
Machine B: Sold on December 31 for $30,500; received cash, $22,500, and an $8,000 interest-bearing (12 percent) note receivable due at the end of 12 months.
Machine C: On January 1, this machine suffered irreparable damage from an accident. On January 10, a salvage company removed the machine at no cost.
Required:
1. Give all journal entries related to the disposal of each machine in the current year.
Machine A.
Machine B.
Machine C.Required information
[The following information applies to the questions displayed below.]
During the current year, Yost Company disposed of three different assets. On January 1 of the current year, prior to
the disposal of the assets, the accounts reflected the following:
The machines were disposed of during the current year in the following ways:
a. Machine A: Sold on January 1 for $5,000 cash.
b. Machine B: Sold on December 31 for $30,500; received cash, $22,500, and an $8,000 interest-bearing (12
percent) note receivable due at the end of 12 months.
c. Machine C: On January 1, this machine suffered irreparable damage from an accident. On January 10, a salvage
company removed the machine at no cost.
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