Equipment acquired on february 5 20xx at a cost of 212750, Ask an Expert

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Equipment acquired on February 5, 20XX at a cost of $212,750 has an estimated useful life of 8 years and an estimated residual value of $32,000. Assuming that at the end of year 5 Accumulated Depreciation totals $134,850 and the equipment is sold on 9/30/XX for $110,000, please give the appropriate journal entry, including date and footnotes.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9975034

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