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Required information [The following information applies to the questions displayed below. On January 2, 2017, Bering Co. disposes of a machine costing $44,000 with accumulated

Required information [The following information applies to the questions displayed below. On January 2, 2017, Bering Co. disposes of a machine costing $44,000 with accumulated depreciation of $24,625. Prepare the entries to record the disposal under each of the following separate assumptions. 1. The machine is sold for $18,250 cash. Answer is not complete. No Date General Journal Debit Credit 1 Jan 02 60.200 X Accumulated depreciation Machinery (old) Machinery (old) Cash Gain on sale of equipment X

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