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Use the following information to answer questions 8 - 16. The Empire is in desperate need of cash to fund the continuing war with the

Use the following information to answer questions 8 - 16.

The Empire is in desperate need of cash to fund the continuing war with the Rebellion so the Emperor and Imperial officers decide to sell the Death Star and they put it on Craigslist.com. The Death Star has a fair market value of $400 million and they are able to find a buyer who pays them $372 million. At the time of sale, the Death Star is listed on the Empires balance sheet for $375 million. The Empire had purchased the Death Star for $550 million and was depreciating it over 25 years using the straight-line method.

Record the journal entry for the sale of the Death Star on December 18, 2025.

Date

Account Description

Debit

Credit

#8

#9

#10

#11

#12

#13

#14

#15

#16

Question 8

What answer corresponds with the field labeled #8 above?

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Question 9

What answer corresponds with the field labeled #9 above?

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Question 10

What answer corresponds with the field labeled #10 above?

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Question 11

What answer corresponds with the field labeled #11 above?

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Question 12

What answer corresponds with the field labeled #12 above?

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Question 13

What answer corresponds with the field labeled #13 above?

Question 14

What answer corresponds with the field labeled #14 above?

Question 15

What answer corresponds with the field labeled #15 above?

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Question 16

What answer corresponds with the field labeled #16 above?

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