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very urgent Northbound Company purchased machinery for $275,000 which had an estimated useful life of 8 years with an expected residual value of $50,000. At
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Northbound Company purchased machinery for $275,000 which had an estimated useful life of 8 years with an expected residual value of $50,000. At December 31, 2021, the machinery is fully depreciated. REQUIRED: Prepare the journal entry on December 31, 2021 to record the disposal of the machinery that sold for $35,000
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