Assume the same information as in QS 12 14 except that the Equipment was sold for $85,000 on April 1, 2014 Prepare the journal entry to record the final distribution ofcash Accum Deprec Sam, Andrews, Mary, Cash Equipment Equipment Capital Capital Capital Account balances immediately prior to liquid...

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Assume the same information as in QS 12-14 except that the Equipment was sold for $85,000 on

Question:

Assume the same information as in QS 12-14 except that the Equipment was sold for $85,000 on April 1, 2014. Prepare the journal entry to record the final ofcash.

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...