Problemon july 1 2012 aderholt company sold for 35200 cash, Ask an Expert

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On July 1, 2012, Aderholt Company sold for $35.200 cash a machine that it had acquired 4-1/2 year ago at a cost of $176.000. Depreciation has been recorded on the machine through 2011 using the straight-line method, an estimated useful life of 6 years, and an expected salvage value of $17,600. Prepare journal entries to record depreciation for a) the one-half year prior to the sale, and b) to record the sale of the machine.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92719528

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