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what are the numbers for the debit and credit? Here are selected 2022 transactions of Swifty Corporation. Jan. 1 Retired a piece of machinery that
what are the numbers for the debit and credit?
Here are selected 2022 transactions of Swifty Corporation. Jan. 1 Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $62,400 and had a useful life of 10 years with no salvage value June 30 Solda computer that was purchased on January 1,2020. The computer cost $42,900 and had a useful life of 3 years with no salvage value. The computer was sold for $6,600 cash. Dec. 31 Sold a delivery truck for $9,000 cash. The truck cost $29,950 when it was purchased on January 1, 2019, and was depreciated based on a 5 -year useful life witha $3,000 salvage value. (To record depreciation to date of disposal) June 30 Cash Accumulated Depreciation-Equipment Loss on Disposal of Plant Assets June 30 Cash Accumulated Depreciation-Equipment Loss on Disposal of Plant Assets Equipment (To record sale of computer) Depreciation Expense Accumulated Depreciation-Equipment Dec 31 Cash Accumulated Depreciation-Equipment Equipment Gain on Disposal of Plant Assets (To record retirement of truck) Step by Step Solution
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