Question

Funseth Farms, Inc. purchased a tractor in 2008 at a cost of $30,000. The tractor was sold for $3,000 in 2011. Depreciation recorded through the disposal date totaled $26,000.

Required:
1. Prepare the journal entry to record the sale.
2. Assuming that the tractor was sold for $10,000, prepare the journal entry to record the sale.



$1.99
Sales0
Views464
Comments0
  • CreatedJuly 02, 2013
  • Files Included
Post your question
5000