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Accounting

Problem:

Equipment purchased for $48,200, with accumulated depreciation to date of $36,100, is sold for $15,000:

Required:

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

Question 2: Assuming equipment was sold for $9,800, journalize the entry to record the sale.

Note: Be sure to show how you arrived at your answer.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91165847

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