Georgia company purchased equipment in 2001 for 90000 and, Ask an Expert

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Georgia Company purchased equipment in 2001 for $90,000 and estimated a $6,000 salvage value at the end of the equipment's 10-year useful life.

At December 31, 2007, there was $58,800 in the Accumulated Depreciation account for this equipment using the straight-line method of depreciation.

On March 31, 2008, the equipment was sold for $24,000.

Prepare the appropriate journal entries to remove the equipment from the books of Georgia Company on March 31, 2008.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M9406389

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