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Transaction 2C December 31, 2017: On December 31, 2017 the Accumulated Depreciation account had balance of $12,000. On December 31, 2017 Jensen Company sold the
Transaction 2C December 31, 2017: On December 31, 2017 the Accumulated Depreciation account had balance of $12,000. On December 31, 2017 Jensen Company sold the vacuum pump for $19,000 cash. Give all journal entries related to the disposal of the vacuum pump. Q29. Indicate the account title to be debited by $19,000. A. Acct Receivable D. Gain on Asset Disposal B. Accumulated Depreciation (Equipment) C. Cash E. None Q30. Indicate the account title to be debited by $12,000. C. Cash A. Acct Receivable B. Accumulated Depreciation (Equipment) E. None D. Loss on Asset Disposal Q31. Indicate the account title to be credited by $30,000. C. Gain on Asset Disposal B. Equipment E. None A. Cash D. Loss on Asset Disposal Q32. Indicate the account title to be credited by $1,000. C. Gain on Asset Disposal B. Equipment E. None A. Cash D. Loss on Asset Disposal
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