Question
Sold Computer Equipment from the initial October 1 transaction (setting up the company) that was recorded at $8,300 to Escambia County Schools for $7,500 cash.
Sold Computer Equipment from the initial October 1 transaction (setting up the company) that was recorded at $8,300 to Escambia County Schools for $7,500 cash. (Remember: Computer equipment was deemed to have a 2 seven-year life with $1,000 salvage value ROUND MONTHLY DEPRECIATION EXPENSE TO NEAREST WHOLE DOLLAR). Can someone please give me the correct journal entry for this problem?
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Intermediate Accounting Volume 1
Authors: Kin Lo, George Fisher
4th Edition
013523610X, 9780135236109
