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The following transactions were carried out for an unnamed company during Year 6 : January 1 - Purchased a building for $ 8 4 ,

The following transactions were carried out for an unnamed company during Year 6:
January 1-Purchased a building for $84,000 cash. It has a $4,000 residual
value, 20-year expected life, and double-declining balance amortization will
be used.
May 1-Purchased equipment for $25,000cash. It has a $3,000 residual value,
10-year expected life, and straight-line amortization will be used, using days
as the basis.
December 31-Recorded amortization on the building and equipment.
Additional transactions were carried out during Year 7:
June 30-Sold the equipment for $21,000 cash. Remember to record
amortization to date for Year 7 before selling the equipment.
December 31-Recorded amortization on the building.
Required
Prepare journal entries for the above transactions. Please leave one empty row
between each journal entry.The following transactions were carried out for an unnamed company during Year 6:
January 1Purchased a building for $84,000 cash. It has a $4,000 residual value, 20-year expected life, and double-declining balance amortization will be used.
May 1Purchased equipment for $25,000 cash. It has a $3,000 residual value, 10-year expected life, and straight-line amortization will be used, using days as the basis.
December 31Recorded amortization on the building and equipment.
Additional transactions were carried out during Year 7:
June 30Sold the equipment for $21,000 cash. Remember to record amortization to date for Year 7 before selling the equipment.
December 31Recorded amortization on the building.
Required
Prepare journal entries for the above transactions. Please leave one empty row between each journal entry.
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