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the answers that i have written are incorrect expect for cash Exercise 8-18 (Algo) Partial-year depreciation; disposal of plant asset LO P2 Rayya Company purchases
the answers that i have written are incorrect expect for cash
Exercise 8-18 (Algo) Partial-year depreciation; disposal of plant asset LO P2 Rayya Company purchases a machine for $134,400 on January 1,2021 . Straight-line depreciation is taken each year for four years assuming a seven-year life and no salvage value. The machine is sold on July 1,2025 , during its fifth year of service. Prepare entries to record the partial year's depreciation on July 1,2025, and to record the sale under each separate situation. (1) The machine is sold for $57,600 cash. (2) The machine is sold for $46,080 cash. Journal entry worksheet Record the machine sold for $46,080 cash. Note: Enter debits before credits Step by Step Solution
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