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Accounting

Problem:

Equipment purchased for $40,000, with accumulated depreciation to date of $24,000, is sold for $17,500.

Required:

Question 1: Journalize the entry to record the sale of the asset.

Question 2: Assuming the equipment was sold for $14,200, journalize the entry to record the sale.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91165837

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