Question
Riley, Inc. sold a 20-ton mechanical draw press for $60,000. The old draw press cost $70,000 and had a book value of $55,000. Required: Prepare
Riley, Inc. sold a 20-ton mechanical draw press for $60,000. The old draw press cost $70,000 and
had a book value of $55,000.
Required:
Prepare the journal entry to record the sale of the draw press.
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College Accounting Chapters 1-26
Authors: Douglas J. McQuaig, Patricia A. Bille
6th Edition
0395796997, 978-0395796993
